Live News GEOPOLITICS L impact Jun 29, 2026, 05:07 AM UTC

(KR) South Korea President Lee: There's massive competition in chips, AI sectors

SQUAWKNEWS 2 updates Updated Jun 29, 2026, 06:13 AM UTC

Story updates

05:18:09 AM UTC

SQUAWKNEWS

Must complete chip production construction as soon as possible - Korea needs to accelerate building chip base to meet demand - South Korea needs to develop land, provide cheap power, water - Need to secure AI elements faster than any other country; To invest in country's Southwest for chip production - To expand chip supply capacity by investment in Southwest - Gwangju, Jeolla may be able to invest KRW520T in project - Balanced growth in South Korea has become a survival tactic. - **Reminder 28th June: 005930.KR (KR) Samsung, SK Group said to invest a total KRW2,000T over 10 years Korea press (update) - During the meeting, President Lee will outline the general framework of the three mega-projects, followed by presentations from the Ministry of Trade, Industry and Resources, Ministry of Science and ICT, Ministry of Climate, Energy and Environment, and Ministry of Land, Infrastructure and Transport on support measures. Samsung Electronics and SK Group will then disclose their specific investment plans. Observers suggest the investment scale, spanning Honam’s semiconductor cluster development to Chungcheong and Yeongnam regions, could surpass 2,000 trillion Korean won over 10 years.

06:13:06 AM UTC

SQUAWKNEWS

Need to secure AI elements faster than any other country - To invest in country's Southwest for chip production - Global memory market to grow fourfold within 5 years - South Korea aims to double DRAM production capability in 5 years - Comments from South Korea's Government - Expect to double DRAM production capacity in five years - Expects investments of ~KRW800T to build four chip fabrication plants in country's Southwest - Samsung Electronics to build 2 new fabrication plants - Expects investments of KRW81T in Chungcheong area for chip packaging cluster - South Korea to provide KRW30T over 15 years for chip R&D, others - South Korea will work to push up global humanoid market share - KRW81T to be spent to build chip packaging fabrication plants - Expects investments of ~KRW550T for building AI data centers - South Korea to spend more than KRW1,000T in AI data centers by 2035 -

Need to secure AI elements faster than any other country - - Must complete chip production construction as soon as possible - - Korea needs to accelerate building chip base to meet demand - - South Korea needs to develop land, provide cheap power, water - - To invest in country's Southwest for chip production - - To expand chip supply capacity by investment in Southwest - - Balanced growth in South Korea has become a survival tactic - - Gwangju, Jeolla may be able to invest KRW520T in project - - Global memory market to grow fourfold within 5 years - - South Korea aims to double DRAM production capability in 5 years - - Comments from South Korea's Government - - Expect to double DRAM production capacity in five years - - Expects investments of ~KRW800T to build four chip fabrication plants in country's Southwest - - Samsung Electronics to build 2 new fabrication plants - - Expects investments of KRW81T in Chungcheong area for chip packaging cluster - - South Korea to provide KRW30T over 15 years for chip R&D, others - - South Korea will work to push up global humanoid market share - - KRW81T to be spent to build chip packaging fabrication plants - - Expects investments of ~KRW550T for building AI data centers - - South Korea to spend more than KRW1,000T in AI data centers by 2035 - - - **Reminder 28th June: 005930.KR (KR) Samsung, SK Group said to invest a total KRW2,000T over 10 years - Korea press (update) - - During the meeting, President Lee will outline the general framework of the three mega-projects, followed by presentations from the Ministry of Trade, Industry and Resources, Ministry of Science and ICT, Ministry of Climate, Energy and Environment, and Ministry of Land, Infrastructure and Transport on support measures.

Samsung Electronics and SK Group will then disclose their specific investment plans.

Observers suggest the investment scale, spanning Honam’s semiconductor cluster development to Chungcheong and Yeongnam regions, could surpass 2,000 trillion Korean won over 10 years.