South Korea has announced a major industrial strategy aimed at strengthening its position as a global leader in artificial intelligence (AI) and semiconductor technology, with planned investments exceeding $1 trillion over the coming years.
President Lee Jae Myung described the initiative as a critical race to secure dominance in the rapidly growing AI sector. The plan focuses on three key areas: semiconductor manufacturing, physical AI technologies, and data centres.
The country’s two largest memory chip manufacturers, Samsung Electronics and SK Hynix, are expected to invest about 800 trillion won ($518 billion) with industry partners to build new chip production facilities in southwestern South Korea.
The government said additional investments will support a semiconductor packaging hub near Seoul, while major companies including SK Group, GS Group and Naver will back the development of AI data centres.
Officials projected that by 2035, South Korea will have expanded its AI data-centre capacity with total investment reaching around 1,000 trillion won ($648 billion).
President Lee said the project is also designed to reduce economic gaps between Seoul and other regions by creating new technology hubs outside the capital.
However, opposition parties criticised the plan, claiming that choosing the southwestern region was influenced by political considerations rather than business priorities.
The government rejected the criticism, saying the area was selected because of its available resources and potential to support large-scale technology infrastructure.
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