Samsung Group and SK Group plan to invest 2,000 trillion won over the next 10 years under President Lee Jae Myung's flagship industrial strategy, the Korea Economic Daily reported Monday.
The two groups will unveil their plans at the presidential office later in the day, the report said.
The industry, science, land, and energy ministries also plan to announce support measures, which comprise plans to secure the power and water supplies required for the proposed technology facilities, according to a Yonhap News report on Monday.
Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660) are expected to build four to five semiconductor fabrication plants each in the Gwangju area, while the former plans to construct additional chip packaging facilities in South Chungcheong Province, and the latter will add to its NAND production plants in the North Chungcheong Province, the report said.
Samsung Electronics and SK Hynix did not immediately reply to' request for comment.
Shares of Samsung Electronics fell more than 5% in recent trade, while those of SK Hynix declined over 4%.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)