South Korea is unveiling three major "mega-projects" to boost its AI and chip industries, including a new semiconductor hub in the southwest that could attract hundreds of billions of dollars in investment from Samsung and SK over several years. The announcement reflects President Lee Jae Myung's strategy to pair technological ambitions with regional economic development beyond Seoul.
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South Korea is set to unveil three "mega-projects" to fuel its next growth phase, including a new semiconductor hub in the southwest that local media report could attract investments by Samsung and SK spanning hundreds of billions of dollars over several years. President Lee Jae Myung will preside over the event, framed as a national "great leap", with ministries covering industry, science, climate and transport set to outline policy support.
Why it matters
The announcement marks President Lee's boldest push yet to align South Korea's AI and chip ambitions with his pledge to narrow regional disparities and revive economies beyond the Seoul metropolitan area. For businesses and investors, the multi-year, large-scale investment signal suggests a strategic government commitment to keeping South Korea competitive in semiconductors and AI.
What to watch
The event is due to be unveiled around 2 p.m., with the potential hundreds-of-billions-of-dollar investment scale indicating the government's significant stake in the projects' success.
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