President Lee Jae Myung joins hands with SK Group Chairman Chey Tae-won, left, and Samsung Electronics Executive Chairman Lee Jae-yong during a public briefing at Cheong Wa Dae in Seoul on the government's megaprojects for artificial intelligence industry development, Monday. The government and the groups unveiled plans to develop a large-scale semiconductor cluster in the nation's southwestern region. Joint Press Corps
Samsung Electronics and SK hynix will invest 800 trillion won ($519 billion) to establish a semiconductor complex in the country's southwestern region, as part of government-private sector plans to strengthen Korea's position as one of the world's leading semiconductor powerhouses amid a boom in artificial intelligence (AI) industries.
SK Group, GS Group and Naver will also spend 550 trillion won to set up AI data centers to increase the total capacity to 18.4 gigawatts by 2035.
The government, Samsung Electronics, SK Group and other large businesses announced the massive investment plans Monday, as part of the government's three flagship megaprojects focusing on semiconductors, physical AI and AI data centers, designed to meet surging demand for AI infrastructure as the technology reshapes the global industrial landscape.
