President Lee (李) met with Lee Jae-yong (李在鎔), chairman of Samsung Electronics, and discussions were held on AI and investment in the US. A subsequent meeting with Chung Euisun (鄭義宣), chairman of Hyundai Motor Group, is also scheduled, drawing attention to developments surrounding the advancement of the 3 major mega-projects.
Last week, President Lee (李) held a dinner with Choi Tae-won (崔泰源), chairman of semiconductor giant SK Group, and followed this with a meeting with Lee Jae-yong (李在鎔), chairman of Samsung Electronics, on the 26th. He is also expected to meet soon with Chung Euisun (鄭義宣), chairman of Hyundai Motor Group, marking a succession of meetings with the heads of several major companies.
The meetings are serving as a forum for the South Korean government and major companies to discuss specific measures centered on the “3 major mega-projects,” a large-scale investment plan in areas including semiconductors and AI announced at the end of June. Samsung Electronics and SK hynix have announced plans to invest KRW 800 trillion (approximately ¥92 trillion) in the southwest of the country and build a total of 4 new semiconductor plants. President Lee (李) has emphasized advancing the plan, and specific measures to bring it to fruition are expected to be discussed through the meetings.
Hyundai Motor Group’s investment plan for Saemangeum is also expected to be on the agenda. The group has announced plans to invest KRW 9 trillion in the Saemangeum area in phases by 2029 and establish an “innovation growth hub” focused on areas including AI and robotics.
The meetings with the heads of the 3 companies are also expected to cover issues including moves to expand investment in the US under the Trump administration and the restructuring of supply chains. The focus may be on how to resolve uncertainty in the business environment, including how to balance expanding domestic investment with increased investment in the US and ensure stable management of trade issues with the US.