Samsung and – South Korea’s Samsung Group and SK Group are expected to announce as much as 2,000 trillion won—about $1.3 trillion—of investments over the next 10 years at a Monday meeting at the presidential office. The plan, tied to President Lee Jae Myung’s “Three Mega Pr
The meeting is scheduled for Monday afternoon, and by the time leaders step into the presidential office, Samsung and SK are expected to bring a price tag big enough to reshape South Korea’s industrial map.
South Korea’s Samsung Group and SK Group are poised to announce as much as 2. 000 trillion won—about $1.3 trillion—of investments over the next decade as part of President Lee Jae Myung’s flagship industrial strategy. Korea Economic Daily reported Monday that the figure could be that large. describing it as part of the “Three Mega Projects for the Great Leap Forward” initiative. The newspaper did not say where it obtained the information.
The plans are expected to be unveiled when their leaders present them at the presidential office on Monday. South Korea’s presidential office said Lee will introduce the initiative at a 2 p.m. event. Presidential spokesperson Kang Yu-jung said officials from the industry. science. climate and land ministries will outline the government’s policy measures before Samsung and SK present their investment plans.
Semiconductors are at the center of the proposal. Samsung Electronics Co. and SK Hynix Inc. are each expected to build four to five semiconductor fabs in the Gwangju area. Samsung is also expected to build chip packaging plants in South Chungcheong province. while SK Hynix is expected to expand NAND plants in North Chungcheong province.
The numbers are set against earlier reporting and heightened expectations. The latest report pointed to a combined investment commitment of as much as 2. 000 trillion won over 10 years. exceeding an earlier Maeil Business Newspaper report that said Samsung alone was expected to announce more than 1. 000 trillion won. or about $646 billion. in spending.
While officials are preparing for Monday’s presentation, Lee’s timeline has been part of the build-up. Presidential policy chief Kim Yong-beom said in a YouTube interview Friday that “very unusual” figures would be unveiled on June 29. when Lee hosts the meeting with major companies. The plans are expected to focus on sectors including semiconductors, AI data centers and physical AI.
Taken together. the set pieces are in place: a presidential event at 2 p.m. ministry officials laying out policy measures. and then Samsung and SK bringing investment plans that—depending on how fully the 2. 000 trillion won figure materializes—could dwarf earlier expectations. The remaining suspense is how much of the scale Samsung and SK are ready to commit to on paper. and how quickly that spending can translate into new chip capacity and supporting infrastructure across South Korea.
Samsung Group SK Group Lee Jae Myung Three Mega Projects for the Great Leap Forward semiconductor fabs Gwangju SK Hynix Samsung Electronics NAND chip packaging AI data centers physical AI 2 000 trillion won
1.3 trillion?? that’s wild, so they’re basically building the whole country with chips.
I don’t even get it, is this money going to Americans or just South Korea? Like semiconductors affect us but the article makes it sound local.
“Three Mega Pr” ??? I think it’s like three big projects or whatever. Also Gwangju chips… isn’t that where all the conflict was in the old news? Idk, but $1.3T sounds like a tax break disguised as jobs.
2 p.m. meeting at the presidential office… sounds like they already decided before anyone talks. Samsung building fabs and packaging and SK doing NAND—okay but what about workers? like are they moving people or just dumping money and letting machines do it.