President Lee Jae Myung, center, holds hands with Samsung Electronics Co. Chairman Lee Jae-yong, right, and SK Group Chairman Chey Tae-won during a meeting at the presidential office Cheong Wa Dae in Seoul, June 29, to unveil the government's three megaprojects aimed at attracting large-scale investment in semiconductors, physical artificial intelligence (AI) and AI data centers. Yonhap
President Lee Jae Myung on Saturday rejected criticism by opposition sides that the government's large-scale regional investment drive is aimed at boosting his approval ratings, saying the three "megaprojects" are designed to create new hope and a future for the country.
Earlier this week, the government unveiled its "three megaprojects" initiative, which envisions a national transformation driven by semiconductors, physical artificial intelligence (AI) and AI data centers, calling for a total investment of 4,755 trillion won ($3.11 trillion).
As part of the scheme, Samsung announced plans to build two memory chip fabrication plants in the southwestern city of Gwangju, while SK hynix said it will construct two fabs in the surrounding Jeolla provinces under a combined investment plan worth 800 trillion won.
