Samsung Electronics and other major South Korean companies have announced fresh domestic investment plans at a meeting with President Lee Jae Myung, who hopes the moves will counter concerns that the firms would prioritize U.S. investments under a trade deal.
Lee’s meeting with business leaders came days after his government finalized a trade deal with the U.S., in which Seoul pledged to invest $350 billion in U.S. industries in exchange for averting the Trump administration’s highest tariffs.
Samsung said on Nov. 16 it will invest 450 trillion won ($310 billion) over the next five years to expand its domestic operations, including building another production line at its Pyeongtaek manufacturing hub to meet surging global semiconductor demands fueled by artificial intelligence.
Hyundai Motor Group, South Korea’s largest automaker, said it plans to invest 125 trillion won ($86.3 billion) from 2026 to 2030 to expand domestic research and development and advance new technologies such as AI, robotics and self-driving cars.
SK Group, another semiconductor powerhouse, and shipbuilders Hanwha Ocean and HD Hyundai also announced plans to increase their domestic investments.
Both are central to South Korean commitments to boost the U.S. shipbuilding industry, a sector highlighted by President Donald Trump in negotiations with Seoul.
In his meeting with the companies’ chiefs, Lee urged the companies to maintain strong domestic investments to ease concerns they might cut spending at home to invest more in America.
He said his government is exploring various policy steps, including easing regulations, to help create a more favorable business environment for the companies.
