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SEOUL, June 29 (Yonhap) — South Korea’s top conglomerate Samsung Group on Monday pledged to make combined investments of 2,655 trillion won (US$1,721 billion) in line with the government’s drive to promote regional development led by the artificial intelligence (AI) industry.
The announcement includes 625 trillion won allocated for the southwestern and southeastern regions, along with the central Chungcheong provinces, the business group said in a release after President Lee Jae Myung unveiled the government’s “three megaprojects” initiative.
The Lee administration’s strategy aims to strengthen South Korea’s competitiveness in advanced technologies and transform the country into an industrial powerhouse in the AI era.
Samsung Electronics Chairman Lee Jae-yong speaks during a briefing to announce President Lee Jae Myung’s “three megaprojects” initiative in Seoul on June 29, 2026. (Pool photo) (Yonhap)
The combined investment includes 2,030 trillion won for the semiconductor cluster at its campus in Pyeongtaek, around 60 kilometers south of Seoul, as well as the semiconductor cluster currently under construction in Yongin, just south of the capital city.
Earlier in the day, Samsung Electronics Chairman Lee Jae-yong said his company is considering the southwestern city of Gwangju as a candidate site for a new semiconductor base, which would complement the company’s existing production facilities concentrated in the greater Seoul metropolitan area.
“The establishment of a global cutting-edge chip cluster in Gwangju aims to address exploding demand for chips,” the company said, noting Samsung found it necessary to launch a new semiconductor cluster beyond existing ones and those under construction.
“The company is considering Gwangju as a candidate site amid expectations for more incentives, including electricity and water supplies, workforce recruitment and training, and improved settlement conditions,” Samsung added.
Samsung said once completed, a production base in Gwangju will help the region serve as one of the two pillars of South Korea’s chip industry, along with the Seoul metropolitan area.
Other Samsung affiliates will also support the country’s efforts to secure AI infrastructure, with Samsung SDS Co. seeking to build an AI data center in Haenam, located 330 kilometers southwest of Seoul.
Samsung C&T Corp. will also make investments to build solar energy and nuclear energy-based hydrogen production facilities in the southwestern region, the business group said.
Samsung Electronics Chairman Lee Jae-yong speaks during a briefing to announce President Lee Jae Myung’s “three megaprojects” initiative in Seoul on June 29, 2026. (Pool photo) (Yonhap)
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