South Korea focuses on artificial intelligence and chips

South Korea focuses on artificial intelligence and chips

https://www.voiceofemirates.com/en/science-and-tech/2026/06/29/with-576-billion-south-korea-launches-its-largest-chip-and-artificial-intelligence-project/

Publish Date: 2026-06-29 06:37:00

Source Domain: www.voiceofemirates.com

• South Korea’s President Lee Jae-myung announced an extensive plan to invest over $576 billion to advance the country’s positions in artificial intelligence (AI) and the semiconductor sector.
• The initiative aims to close regional development discrepancies within the country and revitalize regional economies.
• Samsung Electronics and SK Hynix will lead the construction of two new multibillion-dollar chip manufacturing facilities in the southwest, leveraging local energy resources and addressing the max capacity of existing plants.
• The projects signify a collaborative effort from leading Korean tech and industry corporations to build a comprehensive national digital infrastructure.
• The government intends to boost semiconductor production to meet rising global demand and secure South Korea’s leadership in global technology.