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South Korea plans review of semiconductor cluster project
President Lee Jae Myung will chair a meeting next week to assess progress on a large semiconductor production base in the southwestern region. The session follows recent investment announcements by major chipmakers.
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President Lee Jae Myung plans to preside over a meeting next week to review progress on a semiconductor production base in South Korea's southwestern region, presidential spokesperson Kang Yoo-jung said Friday. The joint public-private meeting will take place at the presidential office on Monday.
It will examine the semiconductor cluster project in the southwestern region. During an event on Monday, Samsung announced plans to build two memory chip fabrication plants in Gwangju. SK hynix said it will construct two fabs in the surrounding Jeolla provinces.
The combined investment totals 800 trillion won, or about $522.3 billion.
The plans form part of the government's three megaprojects initiative. The initiative targets semiconductors, physical artificial intelligence, and AI data centers, with a total planned investment of 4,755 trillion won. The upcoming meeting will be the first strategic review since the investment plans were announced.
It will include senior executives from Samsung and SK hynix, presidential chief of staff Kang Hoon-sik, Finance Minister Koo Yun-cheol, Industry Minister Kim Jung-kwan, and senior local government officials, the spokesperson said.
