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SEOUL, June 29 (Reuters) - South Korea announced three "mega projects" on Monday covering semiconductors, physical AI and AI data centres, with Samsung Electronics, SK Group and government ministries

Find insight on LG Display, Apple, SK Hynix and more in the latest Market Talks covering Technology, Media and Telecom.

~ $2 trillion That's how much South Korean chipmakers Samsung Electronics and SK Hynix, along with affiliate companies and the country's government, plan to spend on creating new semiconductor and AI industry hubs in the years to come.

The world’s two largest memory-chip makers said their existing investments wouldn’t be enough to meet demand, amid a worldwide shortage.

South Korean tech giants Samsung Electronics and SK Hynix said Monday they will invest a combined 800 trillion won ($518 billion) in building a new computer chipmaking hub in the country’s southwest region, capitalizing on surging artificial intelligence -driven demand. President Lee Jae Myung joined the companies’ chairs Monday in announcing the plan, which dovetails with the government’s efforts to expand investment beyond the greater Seoul metropolitan area, the country’s economic center and heart of its semiconductor sector.

South Korea is launching a 1,350 trillion won ($880 billion) plan in corporate investments to build out critical AI infrastructure and cement its global dominance in the semiconductor market. President Lee Jae Myung called the sweeping mega-project a "national survival strategy" for the AI era. Bloomberg's Avril Hong breaks down the press conference, where President Lee was joined by the CEOs of tech giants Samsung and SK Hynix to outline the multi-year roadmap.

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South Korea will invest nearly $1.2 trillion -- equivalent to more than two-thirds of its GDP -- in a new chip-building hub and AI data centres over several years, as it seeks to profit from soaring demand while developing previously neglected regions.The government also announced a separate investment of a quadrillion won (around $650 billion) in AI data centres over the next 10 years.

The rally driven by the global artificial-intelligence boom has exposed structural vulnerabilities in a stock market unaccustomed to wild swings.

Samsung Electronics and ‌SK Hynix ‌plan to each build ​two new massive chip fabrication sites in South Korea's southwest ‌region ⁠as part of a national project ⁠to build chip production "ecosystem" valued ​at 800 ​trillion ​won ($517.87 billion), ‌the government said on Monday. The plan was unveiled at the announcement of three ‌new "mega-projects" by ​the country ​and ​the global ‌chip giants to ​spur ​growth and dominate the AI sector. ($1 = ​1,544.8000 ‌won)

Asian markets were mixed on Monday as selling of artificial intelligence-related shares pulled benchmarks in Japan and South Korea lower, though gains for other stocks helped offset those losses. U.S. futures advanced and oil prices gained, though they remained close to the levels they were at before the Iran war began in late February. Tensions between the U.S. and Iran escalated over the weekend as Iran launched fresh drone and missile attacks on Bahrain and Kuwait in response to new U.S. airstrikes, adding to uncertainties clouding the global economic outlook.

South Korea rolled out sweeping chip and AI mega-projects on Monday, ‌as President Lee Jae Myung pledged to cement ‌overwhelming industry leadership with investments spanning hundreds of billions of dollars over ​several years. The announcement marks Lee's boldest push yet to align South Korea's AI and chip ambitions with his pledge to narrow regional disparities and revive economies beyond the Seoul metropolitan ‌area. Lee was joined by ⁠the leaders of Samsung Electronics and SK Hynix, the world's two largest memory chipmakers, for ⁠the televised announcement.

By Joyce Lee SEOUL, June 29 (Reuters) - South Korea is set to unveil three "mega-projects" to fuel its next growth phase, including a new semiconductor hub in the southwest that local media say could

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It's getting harder to diversify out of the global AI chip trade.

We are witnessing an extraordinary transfer of cash from the providers of AI—and, perhaps one day, AI users—to memory-chip makers.

The South Korean government requires would-be investors in leveraged, single-firm ETFs, to take an eight-question exam.

Despite notable stock declines today, memory makers like Micron Technology, Samsung and SK Hynix are far and away the best performers among trillion-dollar technology companies this year. Some of the moves this past week help explain why.

Stock indexes closely tied to AI fell Friday. Japan’s benchmark index slid more than 4%, weighed down by a 13% plunge in SoftBank Group’s shares, after a media report suggested OpenAI could hold off going public until next year. The PHLX semiconductor index dropped about 5%, while the Roundhill Memory ETF fell 6.5%.

Micron's outlook eased chip-demand fears, but inflation concerns quickly reignited volatility across AI-focused stocks.

Tech looks set to extend a recent slump as Wall Street dumps some of the stocks that have benefited most from the AI trading frenzy.

Micron Rockets Higher, Dragging Global Chip Stocks Into Green Zone

South Korean chip stocks tumble as Samsung and SK Hynix volatility raises investor concerns.

To see just how skittish the AI trade has become, look no further than South Korea’s Kospi index this week. The benchmark has swung at least 3% in either direction for the last four trading sessions, with even bigger moves intraday.

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Investing.com - U.S. stock futures were mixed on Friday as investors remain cautious after another difficult week for technology stocks. Reports that OpenAI may delay its highly anticipated stock market debut added to concerns around lofty AI valuations, while Apple’s recent price hikes continued to weigh on sentiment.