South Korean firms, including Samsung, lift home investment after tariff deal
Samsung Electronics and other major South Korean companies on Sunday announced fresh domestic investment plans at a meeting with President Lee Jae Myung, who hopes the moves will counter concerns that the firms would prioritise US investments under a trade deal.
Lee's meeting with business leaders came days after his government finalised a trade deal with the United States, in which Seoul pledged to invest $350 billion (€301.41bn) in US industries. That's in exchange for the Trump administration agreeing to withdraw its highest tariffs.
Samsung, a global leader in computer chips, said it will invest 450 trillion won (€265.76bn) over the next five years to expand its domestic operations. Plans involve building another production line at its Pyeongtaek manufacturing hub to meet surging global semiconductor demands fuelled by artificial intelligence.
Samsung said the new line, set to begin operations in 2028, is part of its broader effort to secure additional production capacity in anticipation of rising mid- to long-term demands for memory chips. The company also plans to build AI data centres in the country's southwest South Jeolla Province and the southeastern city of Gumi to support government efforts to reduce the development gap between the greater Seoul metropolitan area and other regions.
First, please LoginComment After ~