Samsung Electronics, SK hynix to unveil massive investment plans Monday with Lee Jae-yong, Chey Tae-won in attendance

By Yang Geun-hyuk, The Herald Business

Samsung Electronics and SK hynix are set to announce large-scale investment plans at a public briefing chaired by President Lee Jae Myung at Cheong Wa Dae's Yeongbingwan on Monday.

Cheong Wa Dae Chief Spokesperson Kang Yu-jung said Saturday that the "Great Leap Forward — Three Mega Projects Public Announcement Ceremony" will be held Monday at 2 p.m. under Lee's chairmanship.

Lee will open the event with remarks outlining the overall vision for the three mega projects. The Ministry of Trade, Industry and Energy, the Ministry of Science and ICT, the Ministry of Climate, Environment and Energy, and the Ministry of Land, Infrastructure and Transport will then present specific policy details.

Samsung Electronics and SK Group will follow with their large-scale investment plans. Observers expect the total investment — spanning a semiconductor cluster in the Honam region as well as the Chungcheong and Yeongnam areas — to exceed 1,000 trillion won ($647 billion) over 10 years.

Samsung Electronics Chairman Lee Jae-yong and SK Group Chairman Chey Tae-won will attend in person. A free-form discussion among participants is scheduled to follow the investment announcements.

In a post on X (formerly Twitter) on Saturday, Lee called the investment a "historic achievement" and described it as "a policy of balanced regional development and nationwide coexistence on which the fate of the Republic of Korea rests." The People Power Party has criticized the event, saying it is timed to coincide with an internal power struggle within the ruling party and intended for political gain.