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Samsung, SK Hynix to Announce $650B Investment Plan on Monday

GateNews
Stocks
SAMSUNG-6.15%

According to Korean Herald, Samsung Electronics and SK Hynix will announce major investment plans on Monday afternoon at 2 p.m. Korean time at the Blue House during a briefing session led by South Korean President Lee Jae-myung.

The two chipmakers are expected to invest over 1 trillion Korean won ($650 billion) over the next decade, potentially including development of a chip manufacturing cluster in the southwestern Jeollanam-do region. Samsung Electronics Chairman Lee Jae-yong and SK Group Chairman Chey Tae-won will attend the briefing.

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