South Korea's Leader Pledges to Double Chip Output Within Five Years

Deep News
09/24

South Korean President Lee Jae-myung unveiled an ambitious plan on Wednesday to double the nation's semiconductor production capacity and shield its artificial intelligence supply chains from external disruptions, while also urging greater American investment in the country. He made these remarks at the "Korea Investment Summit" held in New York, an event that brought together financial and corporate leaders from both South Korea and the United States with the goal of boosting American capital flows into South Korea.

Lee referenced the "three major super projects" launched earlier this year in South Korea, which are designed to build chip industry clusters and other AI-related infrastructure. He added that the country would expand its chip production hubs to double semiconductor manufacturing capability over the next five years. "Furthermore, we will construct critical AI supply chains to ensure they remain unaffected by any potential shocks," he stated.

Lee emphasized that South Korea is reinvesting the "fruits" of the AI chip boom by establishing a "future fund" aimed at nurturing industrial infrastructure and talent, thereby guaranteeing stable support for future industries. He also committed to fostering a market environment conducive to global capital investment and advancing market reforms to attract foreign funds. To this end, the government has already begun revising laws to enhance shareholder value and plans to enlarge the foreign exchange market to enable round-the-clock operations.

"We will redouble our efforts to create a market environment where global capital can invest freely at any time," Lee said. He added, "Going forward, I will dedicate myself to pursuing further improvements. I promise to lead tangible changes that global investors can directly feel through continuous reforms of the capital and foreign exchange markets."

Regarding his summit meeting with U.S. President Donald Trump the previous day, Lee noted that the two leaders discussed cooperation in the shipbuilding sector, particularly the construction of military vessels for the United States.

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