Samsung and SK set to outline $1.3 trillion investment plan
The South Korean groups are expected to present decade-long spending plans tied to President Lee Jae Myung’s industrial strategy.
By Sofia Marchetti · World Affairs Correspondent
2 min read
Samsung Group and SK Group are expected to announce investment plans worth as much as 2,000 trillion won, or about $1.3 trillion, over 10 years, Korea Economic Daily reported. The spending would tie two of South Korea’s most important corporate groups to President Lee Jae Myung’s industrial strategy, with chips and AI among the expected priorities.
The plans are expected to be presented Monday at South Korea’s presidential office, Korea Economic Daily reported, without saying how it obtained the information. The report said leaders from Samsung and SK are due to outline the investment package at the event.
Samsung Electronics Co. and SK Hynix Inc. are each expected to construct four to five semiconductor fabrication plants in the Gwangju area, according to Korea Economic Daily. The newspaper also reported that Samsung is expected to add chip-packaging facilities in South Chungcheong province, while SK Hynix is expected to expand NAND production sites in North Chungcheong province.
South Korea’s presidential office said Sunday that Lee would introduce an initiative called “Three Mega Projects for the Great Leap Forward” at a 2 p.m. event. Presidential spokesperson Kang Yu-jung said officials from the industry, science, climate and land ministries would describe government policy measures before Samsung and SK present their investment plans.
The amount reported by Korea Economic Daily would exceed an earlier figure from Maeil Business Newspaper. Maeil had reported that Samsung alone was expected to announce more than 1,000 trillion won, or about $646 billion, in spending.
Presidential policy chief Kim Yong-beom said Friday in a YouTube interview that “very unusual” figures would be disclosed on June 29, when Lee hosts a meeting with major companies. The plans are expected to center on areas including semiconductors, AI data centers and physical AI, according to the report.
The expected announcements come as South Korea seeks to reinforce industries central to its technology exports and manufacturing base. Samsung Electronics and SK Hynix are key players in memory chips, and the planned fab and NAND investments reported by Korea Economic Daily would expand domestic capacity across several provinces.
This story draws on original reporting from Fortune.