(MENAFN) South Korea’s top conglomerates on Sunday pledged hundreds of billions of dollars for domestic investments in chips, AI, and technology development.

Samsung unveiled a 450 trillion won ($310 billion) five-year plan to expand chip manufacturing, including a major AI data center in South Jeolla. Hyundai Motor Group pledged 125.2 trillion won ($86 billion) through 2030, with 50.5 trillion won ($34 billion) earmarked for AI, robotics, software-defined vehicles, and hydrogen projects.

SK Group plans up to 600 trillion won ($414 billion) in AI and chip investments, hiring around 20,000 workers annually through 2029. LG Group pledged 100 trillion won ($69 billion), 60% for materials, parts, and equipment, while Hanwha plans 11 trillion won ($7 billion) in shipbuilding and defense, plus $5 billion at Philadelphia Shipyard.

The announcements came during President Lee Jae Myung’s meeting with conglomerate leaders to follow up on Seoul’s tariff deal with Washington, under which South Korea promised a $350 billion investment package in exchange for reduced US tariffs. Lee emphasized the importance of balancing US-focused investment with domestic economic priorities.

MENAFN17112025000045017640ID1110353280