South Korea Unveils $576 Billion AI Chip Plan

South Korean President Lee Jae-myung announced a massive investment of nearly $1.2 trillion in a new semiconductor hub and AI data centres, with Samsung Electronics and SK Hynix pledging more than $500 billion for chip manufacturing.

The plan is designed to cement the country’s leadership in the global AI and semiconductor race.

Lee described the megaproject as a ‘national survival strategy’ essential for future economic growth.

The announcement comes as other nations, including the US and China, ramp up their own chip investments.