South Korea’s top industrial groups unveiled more than ₩800 trillion ($552 billion) in domestic investment plans following weekend talks with President Lee Jae Myung, who sought assurances that a newly finalized US trade deal wouldn’t hollow out the nation’s manufacturing base.
Samsung Electronics will spend ₩450 trillion ($311 billion) over five years, including construction of a new memory chip line at its Pyeongtaek complex designated as Plant 5, to meet AI-driven semiconductor demand. The facility is scheduled to begin operations in 2028. Chairman Lee Jae-yong committed to creating 60,000 jobs domestically during the period.
Hyundai Motor Group pledged ₩125.2 trillion ($86 billion) from 2026 through 2030 for research, electric vehicle production and autonomous driving technology. SK Group chairman Chey Tae-won projected that completion of the Yongin semiconductor cluster would ultimately attract ₩600 trillion in total investment, building on an initial ₩128 trillion commitment through 2028.
LG Group confirmed it would implement previously announced plans to invest ₩100 trillion over five years starting 2024, focusing on materials and components. HD Hyundai and Hanwha committed ₩15 trillion and ₩11 trillion respectively over five years, primarily targeting shipbuilding and defense sectors. Celltrion plans roughly ₩7 trillion across facilities and R&D through 2028.
The announcements followed Friday’s finalization of a trade agreement requiring Seoul to invest $350 billion in US strategic sectors—$200 billion in phased cash payments capped at $20 billion annually, plus $150 billion for shipbuilding—in exchange for reducing auto tariffs from 25% to 15%.
