South Korea’s Samsung Group and SK Group plan to invest up to 2,000 trillion won ($1.3 trillion) over the next decade in semiconductor manufacturing, according to Korea Economic Daily. The announcement is expected to be made during a presidential event this week, aligning with President Lee Jae Myung’s industrial strategy to boost the country’s chip industry.
Samsung Electronics and SK Hynix will each build four to five semiconductor fabrication plants in the Gwangju area, the report said. Samsung is also set to develop chip packaging facilities in South Chungcheong province, while SK Hynix will expand its NAND flash memory plants in North Chungcheong province. The investment plans will be presented alongside government policy measures at a 2 p.m. event hosted by the presidential office, with officials from multiple ministries participating.
This combined investment surpasses earlier estimates, with Samsung alone previously expected to spend over 1,000 trillion won ($646 billion). The scale of the commitment reflects South Korea’s push to strengthen its semiconductor sector amid global competition. The move follows President Lee’s announcement of the “Three Mega Projects for the Great Leap Forward,” aimed at advancing key industries including chips, science, and climate initiatives.
The investment package is scheduled to be unveiled at the presidential office event this Monday, June 29, marking a major milestone in South Korea’s industrial policy and semiconductor ambitions.