Samsung Electronics and SK Hynix, two of the largest makers of memory chips on the planet, will invest a combined $590 billion alongside the South Korean government to build a sprawling new manufacturing complex in an effort to relieve the AI-driven shortage that has sent the price of computer memory soaring worldwide.
South Korean President Lee Jae Myung, standing alongside Samsung Chairman Lee Jae-yong and SK Group Chairman Chey Tae-won, unveiled the plan on Monday at the Blue House in Seoul. The president announced plans to strengthen the country's leadership in semiconductors and expand its AI infrastructure through large-scale investments and new manufacturing capacity, saying South Korea must move faster than rivals to secure the technologies underpinning the AI era, according to CNBC (1).
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