South Korea's President Lee unveils $518 billion semiconductor plan with Samsung and SK Hynix building four new fabs in the southwest as part of an AI-chip

Samsung Electronics Co. and SK Hynix Inc. are each expected to build four to five semiconductor fabs in the Gwangju area.

The announcement would mark President Lee Jae Myung's boldest push yet to align South Korea's AI and chip ambitions with his pledge to narrow regional disparities with a "great…