Seoul: President Lee Jae Myung stated that South Korea is at a pivotal moment for substantial progress in the competitive semiconductor and artificial intelligence (AI) sectors, emphasizing the essential need for extensive investments to achieve "overwhelming" chip supply capabilities.

According to Yonhap News Agency, the president's comments came as he unveiled the tripolar mega projects aimed at achieving what he refers to as "absolute competitiveness" in advanced technologies. These initiatives are part of a broader strategy to transform South Korea into a leading industrial force in the burgeoning AI era.

The tripolar mega projects call for significant investment commitments from major semiconductor companies, notably Samsung Electronics Co. and SK Group, which is the parent entity of SK hynix Inc. These commitments focus on three core areas: the semiconductor industry, physical AI, and AI data centers.