South Korea has unveiled an ambitious industrial strategy focused on artificial intelligence semiconductors and data infrastructure as President Lee Jae Myung pledged to secure the country's global leadership in next generation technologies.
The government plans to invest more than one trillion dollars over the coming years to accelerate AI innovation expand chip manufacturing and strengthen digital infrastructure.
Samsung Electronics and SK Hynix the world's two largest memory chipmakers will jointly invest 800 trillion won or about 518 billion dollars along with their suppliers to build two new semiconductor fabrication plants each in the country's southwestern region.
President Lee said Gwangju City and South Jeolla Province will contribute between 5 trillion and 20 trillion won to support the projects while an additional 81 trillion won will be invested in a semiconductor packaging cluster near Seoul.
The government also announced plans to establish advanced AI data centres backed by 550 trillion won in investments from SK Group GS Group and Naver. Science Minister Bae Kyung Hoon said a new 10 gigawatt AI data centre is expected to be completed by 2035 with total investments exceeding 1000 trillion won.
Officials said the initiative aims to strengthen South Korea's competitiveness in AI semiconductor manufacturing and digital infrastructure while promoting balanced regional economic development beyond the Seoul metropolitan area.
The opposition however criticised the project claiming the decision to establish a new semiconductor hub in the southwest was politically motivated rather than based on commercial considerations.
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