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Samsung Electronics, SK Hynix Plan to Pump ~USD520B to Build 4 Chip Plants in S Korea; Kospi Once Slumps 3%+ Before Uptick
2026-06-29 14:10:39 South Korea announced a major semiconductor and AI investment plan today (29th). South Korean President Lee Jae Myung held a televised press conference with senior executives from Samsung Electronics and SK Hynix at 2:00 pm local time. Lee stated that the country must ensure faster growth in core AI components than other countries, adding that semiconductors, physical AI and AI data centers form the three main pillars of the nation’s AI development. Minister of Trade, Industry and Resources Kim Jung-kwan said South Korea plans to invest KRW800 trillion (approximately USD518.437 billion) to build four chip plants in the southwest region. Samsung Electronics and SK Hynix each plan to construct two chip plants. Lee noted that establishing a chip cluster in the southwest would allow better utilization of underused local energy resources. Kim said the global memory market is envisioned to grow fourfold over the next five years. Over the next 15 years, South Korea will invest KRW30 trillion (approximately USD19.5 billion) to develop next-generation memory. The Kospi once dived 3.4% intraday to a low of 8,127. After the investment plan was announced, the index rebounded late in the session and last reported at 8,436, up 24 points or 0.3%. Samsung Electronics narrowed its decline to 3.3%, while SK Hynix trimmed losses to 1.1%. ~ AASTOCKS Financial News Website: www.aastocks.com | |