Samsung readies $648 billion bet as AI boom reshapes South Korea

SEOUL (Reuters) Samsung Group will pledge on Monday 1,000 trillion won ($648 billion) in South Korea over the next decade, the Maeil Business Newspaper reported on Friday. The reported plan covers spending on chips, AI data centres, batteries and displays, including a potential 300 trillion won push to build chip factories in the country's southwest, the newspaper said without citing sources. Top executives from Samsung Electronics and SK Hynix are set to attend a meeting with President Lee Jae Myung to lay out investment plans targeting regions beyond greater Seoul. The presidential office said it will unveil three mega-projects on Monday spanning semiconductors, AI data centres and robotics, with significant investment expected. Samsung and SK Hynix declined to comment. The report used the exchange rate of $1 equals 1,543.4000 won.