South Korea announced a public-private investment initiative focused on semiconductors and artificial intelligence, with President Lee Jae Myung leading the effort. The government plans to invest nearly $1.2 trillion in semiconductors and AI data centres over several years, an amount equivalent to more than two-thirds of the country’s GDP. Samsung Electronics and SK Hynix will collectively invest 800 trillion won ($518 billion) in a new semiconductor fabrication hub in the southwest region, according to multiple sources. According to CNBC.com, the South Korean government stated that each company will build two new semiconductor fabrication plants as part of this project. President Lee Jae Myung said, 'Speed is the only path to survival. We must secure the core elements of artificial intelligence faster than any other nation.' According to TRTWorld.com, he also described semiconductors, physical AI, and AI data centres as the triple axis for South Korea's great leap forward. South Korean memory chipmakers are emerging as a crucial cog in the fast-moving global AI industry. Shares of Samsung Electronics and SK Hynix declined on Monday following the announcement, according to CNBC.com. The $1.2 trillion figure includes investments in both semiconductors and AI data centres, while other figures such as $518 billion, $576 billion, and $650 billion refer specifically to semiconductor investments, reflecting differences in scope rather than direct contradiction.