Asia

Samsung readies $839 billion investment plan for South Korea amid AI boom

Samsung is preparing a massive $839 billion investment plan as an AI boom reshapes South Korea's economy, according to a media report. Top executives from Samsung and rival SK Hynix are expected to attend a meeting with President Lee Jae Myung on June 29.

Cleanroom inside a semiconductor factory
Cleanroom inside a semiconductor factoryPhoto: Tima Miroshnichenko / Pexels
Straits Times Business4 h ago005930

Samsung is preparing a massive investment plan worth $839 billion in South Korea, according to a media report. The plan comes as artificial intelligence rapidly reshapes the country's economy.

Top executives from Samsung and its memory-chip rival SK Hynix are expected to meet President Lee Jae Myung on June 29. The meeting is set to address investment and employment priorities in the age of AI.

Demand driven by artificial intelligence is creating major opportunities for South Korean firms in memory and advanced chip manufacturing. An investment of this scale could further strengthen the country's position in the global technology supply chain.

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This article is an AI-curated summary of the original story published by Straits Times Business. The illustration is a stock photo by Tima Miroshnichenko from Pexels and is not from the original story.

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