South Korea unveils $600bn memory-chip expansion led by Samsung and SK Hynix

South Korea announced a near-$600 billion plan from Samsung Electronics and SK Hynix, backed by the government, to expand chipmaking capacity with two new plants per company in the southwest and a central packaging cluster, as part of President Lee Jae Myung's Three Mega Projects to boost memory chips, AI chips and data-centre infrastructure amid surging demand; the initiative triggered stock declines and raised questions about potential oversupply if AI spending slows.