South Korea Unveils 312 Trillion Won Investment Plan with Samsung, SK, and Others, Focusing on Semiconductors and Aerospace

On July 3, South Korean Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol announced a plan to encourage major companies to invest over 312 trillion won (approximately 204 billion USD) in the southeastern region (Gyeongsangnam-do) to develop advanced manufacturing and AI industries. According to the specific plan, SK Group, Samsung, Hanwha, and Hyundai Motor will each invest about 140 trillion, 60 trillion, 55 trillion, and 42 trillion won, respectively, focusing on fields such as semiconductors, AI, and aerospace. LG and Doosan will also follow up with investments. Additionally, South Korea announced a national aerospace strategy centered around Sacheon, aiming to create an aerospace industrial belt along the southern coast.