Lee pledges to double chip output in 5 years, build AI supply chains free of disruption

NEW YORK — President Lee Jae Myung on Wednesday unveiled an ambitious plan to double Korea's semiconductor production capacity and secure artificial intelligence (AI) supply chains free from external shocks, calling for fresh U.S. investments in the country. Lee made the remarks at the Korea Investment Summit in New York, attended by financial and corporate leaders from both Korea and the United States, to promote U.S. investment in the country. The president referred to the Korea's "three megaprojects" launched earlier this year to build a chip projection cluster and other AI facilities, adding that the country "will double semiconductor production capabilities within the next five years by expanding a chip production hub." "Additionally, (we) will build critical AI supply chains that are not shaken by any shocks," he said. The president highlighted that Seoul is reinvesting "results" from the AI chip boom to create a new "Future Fund" designed to nurture related industrial infrastructure and talent to ensure stable support for future industries. He also pledged to create market condit