South Korean President Lee Jae Myung has ordered officials to expedite the launch of major chip and AI projects, totaling over $576 billion in investments. The goal is to secure global dominance in these industries and promote growth beyond the Seoul metropolitan area.
Investment Details
Samsung Electronics and SK Hynix will each invest 400 trillion won ($260 billion) to build new chip manufacturing sites in the southwest of the country. An additional 81 trillion won is expected to be invested in a chip-packaging cluster in the Chungcheong region.
President Lee emphasized the importance of speed in launching these projects, citing the potential for delays in permits, land acquisition, and securing power and water supply. He encouraged government officials and corporate executives to discuss specific sites for the projects and to pursue procedures simultaneously rather than sequentially.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
