South Korea announces major project plans for chips and AI data centers

CoinFeed June 29 news, according to Jin10 reports, the South Korean government announced major project plans for chips, physical AI, and AI data centers on Monday. South Korean opposition leader Lee Jae-myung stated that it is necessary to ensure the development of AI elements faster than other countries, and chip production construction must be completed as soon as possible. The current factory sites are approaching their limits in terms of water resources and other infrastructure. The southwest region will invest 5 trillion to 20 trillion won in new projects, and Gwangju and Jeolla may invest 520 trillion won in the projects. Regarding detailed planning for factory construction, the South Korean government announced that it expects to build four chip factories in the southwest with an investment of approximately 800 trillion won; Samsung Electronics and SK Hynix will each build two new factories; it is expected that investments in the chip sector will reach at least 30 trillion won over the next 15 years, including next-generation memory, edge AI, and defense sectors. Investment in the chip packaging cluster in the Chungcheong region is expected to reach 81 trillion won. Investment in building artificial intelligence data centers is expected to be about 550 trillion won. The South Korean government expects to double DRAM production capacity within five years and expects the global memory market to grow fourfold within five years. The South Korean side also stated that it seeks to distribute the growth dividends to the public.