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Korean conglomerates will roll out a combined 312 trillion won ($201.7 billion) in investments across cutting-edge industries, such as artificial intelligence (AI) and small modular reactors (SMRs), in the southeastern region, the finance ministry said Friday.
The business groups — Hanwha, Hyundai Motor, Samsung and SK — unveiled a set of projects to foster the chip, electronics and space industries in the southeastern Yeongnam region, building on its existing industrial infrastructure, according to the Ministry of Finance and Economy.
The drive comes under President Lee Jae Myung's tripolar mega projects, which center on advancing technologies across the country and turning Korea into an industrial powerhouse in the emerging AI era, following similar announcements for the southwestern and central regions earlier this week.
In detail, Hanwha Group vowed to invest 55 trillion won in areas including satellites, launch vehicles, and AI data centers for the space and defense sectors, while Hyundai Motor Group will allocate 42 trillion won to build the groundwork for AI-based autonomous driving, manufacturing AI and future aviation industries.
