Abstract:
South Korean President Lee Jae-myung unveiled an ambitious plan on Wednesday to double South Korea's semiconductor production capacity and secure the artificial intelligence (AI) supply chain from external shocks; he also called on the United States to increase investment in South Korea. Lee Jae-myung made the remarks at the "Korea Investment Summit" held in New York, which brought together financial and business leaders from South Korea and the United States to promote U.S. investment in South Korea.
Lee Jae-myung mentioned the "three major super projects" launched by South Korea earlier this year to build chip industry clusters and other artificial intelligence facilities; he added that South Korea will double its semiconductor production capacity in the next five years by expanding chip production centers.
"In addition, we will build critical AI supply chains to ensure they are insulated from any shocks," he said.
Lee Jae-myung emphasized that South Korea is reinvesting the "results" brought about by the artificial intelligence chip boom and establishing a "future fund" aimed at cultivating relevant industrial infrastructure and talents to ensure stable support for future industries.
He also promised to create a market environment conducive to global capital investment and promote market reforms to attract foreign investment; to this end, the Korean government has begun to amend laws to enhance shareholder value, and plans to expand the scale of the foreign exchange market and achieve round-the-clock operation.
Li Zaiming said: "We will redouble our efforts to create a market environment where global capital can invest freely at any time."
He added: "In the future, I will be committed to promoting further improvements. I promise that through continuous reform of the capital market and foreign exchange market, I will lead changes that can be felt by global investors."
When talking about the summit meeting with US President Donald Trump the day before, Lee Jae-ming said that the two sides discussed cooperation in the field of shipbuilding, especially the construction of US military ships.
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