South Korean conglomerates unveil $195 billion of investment in industrial projects
The Hyundai logo is seen at the Everything Electric, the Home Energy & Electric Vehicle Show, in London, Britain, April 16, 2025. REUTERS/Maja Smiejkowska
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SEOUL, July 3 : South Korean conglomerates SK Group, Hyundai Motor Group and Hanwha on Friday unveiled investment initiatives spanning robotics, manufacturing AI, self-driving mobility and space projects for the country’s southeast.
The business groups announced the decisions at an event announcing advanced industry initiatives for the country’s southeastern Yeongnam region, the third mega project announcement this week attended by President Lee Jae Myung.
• Hanwha Group, which has become a major defence manufacturer, will invest 55 trillion won ($36 billion) on satellites, space launch vehicles and AI data centres for defence and space sectors, Vice Chairman Kim Dong-kwan said.
• Hyundai Motor Group will invest 42 trillion won over the next 10 years on self-driving mobility, incorporating AI in manufacturing, and next-generation aerospace production, Vice Chairman Chang Jae-hoon said.
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• Samsung Group will invest 19 trillion won in the city of Gumi to build humanoid robots, a new AI data centre and smartphone production, Samsung Electronics co-CEO TM Roh said.
• A separate 16 trillion won is earmarked for Samsung SDI to build advanced battery production lines, 10 trillion won for Samsung Heavy Industries in vessel and marine infrastructure, and 15 trillion won by Samsung Electro-Mechanics in Busan.
• SK Group will invest 140 trillion won to build AI data centres in the city of Ulsan.
($1 = 1,529.5000 won)
Source: Reuters
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