Svmuu News: According to The Korea Times, the South Korean presidential office said Sunday that Samsung Electronics and SK Hynix will announce major investment plans on Monday at a meeting chaired by President Lee Jae-myung.
The investment plans will be announced at a briefing held at the Blue House at 2:00 p.m. on Monday (KST; 1:00 p.m. on Monday, Beijing time), which is intended to introduce the government’s “Three Mega Projects” aimed at achieving balanced regional development. A spokesperson added that the plan is being jointly promoted by the ministries of trade, science and technology, transportation, and energy. Samsung Electronics Chairman Lee Jae-yong and SK Group Chairman Choi Tae-won will attend the event and participate in a discussion session with other attendees.
Industry observers expect the two chipmakers to invest more than 1000万亿韩元 (approximately $6500亿美元) over the next 10 years, which may include the development of a chip industry cluster in the southwestern region of Jeolla. On Saturday, Lee Jae-myung called this investment a “historic achievement” and a policy initiative that could change South Korea’s destiny. (Jin Shi)