South Korea Secures Record Commitments From Samsung, Hyundai, and SK

Samsung Electronics, Hyundai Motor, and SK Group have announced that they are planning new domestic investments, CNBC reported on November 16.

Hyundai Motor said it will invest $86.3 billion in areas including AI, robotics, and other advanced technologies. SK Group plans to commit $88.3 billion, with a specific focus on artificial intelligence. Samsung will invest $310 billion in its South Korean operations, marking one of the company’s largest domestic commitments.

Other South Korean companies that made similar pledges include Hanwha Ocean and HD Hyundai.

According to CNBC, South Korean President Lee Jae Myung has said that “his government is exploring various policy steps, including easing regulations.” All in an effort to “to help create a more favorable business environment for the companies.”