South Korean Presidential Office: Samsung, SK Hynix to Announce Major Investment Plans on Monday

CoinFeed June 28 news, according to Jinshi citing Korea Times reports, the South Korean Presidential Office said on Sunday that Samsung Electronics and SK Hynix will announce major investment plans at a meeting chaired by President Lee Jae-myung on Monday. The investment will be unveiled at a briefing at the Blue House at 2 p.m. KST (1 p.m. Beijing time) on Monday, which aims to introduce the government's 'three super projects' to promote balanced regional development. The spokesperson added that the plan is jointly promoted by the trade, science and technology, transportation, and energy ministries. Samsung Electronics Chairman Lee Jae-yong and SK Group Chairman Chey Tae-won will attend the event and have a discussion session with other participants. Industry observers expect the two chipmakers to invest over 1,000 trillion won (about $650 billion) over the next 10 years, which may include the possibility of developing a chip cluster in the southwestern Honam region.