South Korea to Unveil Major Investment Plans in Semiconductor Sector

President Lee Jae-myung will preside over the "National Report on Three Mega Projects" on June 29, which focuses on policies to foster super gap industries. Samsung Electronics Chairman Lee Jae-yong and SK Group Chairman Chey Tae-won are expected to announce their investment plans, with projections suggesting that their investments in the southwestern semiconductor fabs could reach 1 trillion won.

According to the Blue House, the event will begin with President Lee's opening remarks outlining the general framework of the three mega projects, followed by detailed policy announcements from the Ministry of Trade, Industry and Energy, the Ministry of Science and ICT, the Ministry of Climate, Energy and Environment, and the Ministry of Land, Infrastructure and Transport.

Minister of Trade, Industry and Energy Kim Jeong-kwan will present the innovation belt strategy centered around Gwangju and Busan. Deputy Prime Minister and Minister of Science and ICT Baek Kyung-hwan is expected to explain plans for a triangular robot cluster connecting the Saemangeum manufacturing and parts cluster, the Daegu-Gyeongbuk certification and demonstration area, and the capital region's industry-academia hubs, as well as the establishment of physical AI infrastructure.

Minister of Climate, Energy and Environment Kim Sung-hwan is set to announce measures for power and water supply necessary for the mega projects.

Following these presentations, Samsung and SK will unveil their large-scale investment plans. The investment is projected to approach 1 trillion won over the next decade, encompassing the establishment of a semiconductor cluster in Honam and extending to the Chungcheong and Yeongnam regions.

President Lee is also expected to address opposition criticisms regarding alleged "abuse of power" related to the Honam semiconductor cluster. Over the course of June 27 and 28, he responded directly to opposition critiques of the Honam semiconductor investment through seven posts on X (formerly Twitter).