Samsung Group is expected to announce plans to invest 1,000 trillion won (US$647.53 billion or RM2.7 trillion) in South Korea over the next decade, including a potential 300 trillion won commitment to build semiconductor manufacturing facilities in the country’s southwest region, according to a media report on Friday.
The investment plan is set to be unveiled during a meeting with South Korean President Lee Jae Myung at the presidential office on Monday, the Maeil Business Newspaper reported, citing unnamed sources.
Senior executives from major technology companies, including Samsung Electronics Co Ltd and rival SK Hynix Inc, are expected to attend the meeting, where they will present investment initiatives aimed at promoting economic growth beyond Seoul and its surrounding metropolitan areas.
The reported investment push comes as South Korea seeks to encourage large corporations to expand operations outside the capital region. Samsung and SK Hynix currently have the bulk of their semiconductor production facilities concentrated around Seoul, and have faced increasing calls to support regional development through new investments.
A significant portion of Samsung’s proposed spending is expected to be directed towards the semiconductor sector, reinforcing the country’s ambitions to strengthen its position in the global chip industry amid rising competition and growing demand for advanced technologies.
South Korea’s presidential office said on Thursday that it plans to hold a public briefing on “three mega-projects for South Korea’s great leap forward”, adding that further details on the meeting would be announced in due course.
Samsung had not issued an official comment on the report as of Friday, as the announcement was made outside regular business hours.
If confirmed, the proposed 1,000 trillion won investment programme would rank among the largest corporate investment commitments in South Korea’s history and underscore Samsung’s long-term confidence in the country’s technology and manufacturing ecosystem.
