Samsung, SK hynix to unveil investment plans this week: presidential office

Samsung Electronics and SK hynix Inc. are set to announce major investment plans early this week at a meeting presided over by President Lee Jae Myung, the presidential office said Sunday. The investments will be unveiled during a briefing scheduled for 2 p.m. Monday at Cheong Wa Dae on the government's three mega projects aimed at balanced regional development, presidential spokesperson Kang Yoo-jung said. The initiative is jointly pushed by the trade, science, transport and energy ministries, she added. Samsung Electronics Chairman Lee Jae-yong and SK Group Chairman Chey Tae-won will attend the event and take part in a discussion session with other participants. Industry watchers expect the two chipmakers to invest more than 1,000 trillion won ($650 billion) over the next 10 years, including in the possible development of a chip cluster in the southwestern Honam region. On Saturday, Lee described the investment as a "historic achievement" and a policy initiative that could potentially change the fate of Korea. The opposition People Power Party has accused the move of being "politically mWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times