South Korea Unveils Plan to Sustain Lead in AI

• President Lee unveiled a major plan to accelerate building a chip base in South Korea's southwest to meet demand.
• The chairmen of SK Hynix and Samsung Electronics, the world's largest memory makers, were present, signaling their involvement.
• The government plans to develop land and provide cheap power and water in the southwest, moving away from resource-constrained Seoul.
• South Korea views semiconductors as a national strategic asset and aims to capitalize on the AI boom.

South Korea's President Lee announced a 'huge project' to bolster the nation's semiconductor and AI sectors, involving significant investments from industry giants like Samsung Electronics and SK Hynix. The initiative aims to decentralize chip manufacturing to the southwest, addressing resource constraints in Seoul and leveraging the region's potential for cheap power and water.