Samsung, LG, SK Hynix and Hyundai to invest US$39.4 billion in the US

The four major Korean conglomerates, including Samsung Electronics and SK Hynix, announced their investment plans in the United States at a business round table held on the occasion of the Korea-U.S. summit. , With a total scale of 39.4 billion US dollars.

The South Korean-US Business Roundtable was held at the US Department of Commerce on the same day. South Korean President Moon Jae-in, South Korean and US Economic and Trade Ministers, and representatives of enterprises from both countries attended.

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At the meeting, representatives of Korean companies emphasized that the North American market is particularly important in the development of future core industries such as the information and communication technology industry, power batteries, and electric vehicles, and expressed that they actively expand the market and master new technologies through cooperation with cutting-edge American companies.

Specifically, Samsung Electronics has decided to invest US$17 billion in new projects for foundries. In the battery industry, LG Energy Solutions and SK Innovation will invest approximately US$14 billion in establishing a local joint venture or investing separately.

Hyundai Motor plans to invest US$7.4 billion in electric vehicle production and charging infrastructure. In addition, SK Hynix plans to invest US$1 billion to establish an emerging industry R&D center covering artificial intelligence and memory solutions in Silicon Valley.


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