Samsung, SK Group poised to announce $1.3tn Korea tech investment
Business
Samsung and SK Group are poised to announce they will invest as much as 2,000 trillion won (about $1.3 trillion) in South Korea's tech sector over the next decade.
This is part of President Lee Jae Myung's big plan to level up the country's technology game, with the official launch happening Monday.
Funds for Gwangju Chungcheong chip plants
Most of this cash will go into building new semiconductor plants in Gwangju and expanding chip operations in Chungcheong provinces: think more advanced AI chips, memory tech, and data centers.
Citigroup says this could seriously boost South Korea's position in global chip manufacturing.
Samsung alone might put up over half the total investment, showing just how committed they are to staying ahead in tech.