South Korea's President's Office: Samsung and SK Hynix will announce major investment plans on Monday

South Korea's president's office said on Sunday that Samsung Electronics and SK Hynix will announce major investment plans at a meeting chaired by President Lee Jae-ming on Monday, Kim Shio quoted the Korea Times.<br /> Relevant investments will be announced at a briefing held in Cheongwadae at 2 p.m. South Korea time on Monday (1 p.m. Beijing time on Monday), which aims to introduce the "three super projects" promoted by the government to achieve balanced regional development. The spokesman added that the plan is jointly promoted by the trade, technology, transportation and energy sectors. Samsung Electronics President Lee Jae-yong and SK Group President Choi Tae-won will attend the event and hold discussion sessions with other participants.<br /> Industry observers expect the two chip makers to invest more than 1000 trillion won (approximately US$650 billion) over the next 10 years, which may include the possibility of developing a chip industry cluster in southwestern Hunan. Lee Jae-myung on Saturday called the investment a "historic achievement" and a policy move that could change South Korea's destiny.