South Korea plans $520 billion Samsung and SK hynix chip hub in Gwangju

South Korea wants its next wave of AI chip wealth to land somewhere other than greater Seoul. The chosen spot is a former military air base in the southwest. On June 29, 2026, the government unveiled a public-private investment of 800 trillion won, or approximately $520 billion, for a new semiconductor hub in the Gwangju and Jeonnam region. Samsung Electronics and SK hynix are set to anchor it. The plan carries a domestic upside and a diplomatic catch. According to Bloomberg, the hub could help spread AI-driven prosperity into the southwest. It could also become another source of friction between Seoul and Washington. Four fabs on an old runway The project centers on the site of the former Gwangju Air Base. That land falls within what is now called the Jeonnam-Gwangju Integrated Special City. Samsung and SK hynix are each expected to build two memory chip fabrication plants there, for four in total. The schedule runs in stages: 2027: site preparation expected to be finished 2028: construction could potentially begin June 2030: target for first mass production The initial build-out is planned at about two-thirds the scale of SK hynix’s Yongin complex. Officials have left room for th...