Samsung Group pledged to invest KRW450 trillion ($308.6 billion) over the next five years, with its Electronics business set to build a new chip production line at its main facility in Pyeongtaek to keep up with soaring demand for both AI and traditional memory, Yonhap News Agency reported.

South Korea confirmed a $350 billion investment commitment to the US on Friday (14 November), raising concerns the country’s top conglomerates could be preparing to cut back domestic investments.

Top executives from the country’s leading companies met with President Lee Jae Myung to discuss measures after finalising the trade deal.

SK Group, Hyundai Motor and ship builder Hanwha Ocean also announced major investment plans.

Samsung’s new production line is expected to start operations in 2028, the news agency wrote.

The company explained it forecasts mid- to long-term expansion in demand for memory chips and plans to secure production lines in advance to respond promptly to market changes.

SK Hynix will build four chip plants at its main Yongin campus, with SK Group planning to invest KRW128 trillion over the next three years, The Korean Herald stated.