South Korean President Lee Jae Myung pledged on 23 September to double his country’s semiconductor production capacity within five years and to build artificial intelligence supply chains that can withstand external shocks, speaking at the Korea Investment Summit 2026 in New York.
Key points
- Lee Jae Myung set a five-year target to double semiconductor production by expanding a chip production hub
- Seoul will create a “Future Fund” reinvesting AI chip boom proceeds into industrial infrastructure and talent
- The pledges form part of three “megaprojects” launched earlier this year for chip clusters and AI facilities
- Lee promised legal revisions to enhance shareholder value and 24-hour foreign exchange market operations
- The president discussed shipbuilding cooperation, including U.S. military vessels, with Donald Trump on 22 September
The five-year target and the Future Fund
Lee framed the production target around what he called the country’s “three megaprojects” launched earlier this year, which include building a chip production cluster and other AI facilities. He said the country “will double semiconductor production capabilities within the next five years by expanding a chip production hub.”
The “Future Fund” represents a new fiscal instrument. The fund will channel gains from the AI chip surge into building up industrial infrastructure and cultivating talent, providing a reliable foundation for coming sectors.
Market reforms and the foreign exchange market
Lee coupled the industrial pledges with promised market reforms aimed at foreign investors. He cited legal revisions to enhance shareholder value and an expansion of the foreign exchange market to operate around the clock. “We will double down on efforts to create market conditions in which global capital can invest freely and at any time,” he said, according to Yonhap’s report of his remarks. He added that he would “spearhead changes that can be felt by global investors by continuously reforming the capital and foreign currency markets.”
The Trump summit and shipbuilding cooperation
Lee’s appearance at the investment summit followed a meeting with U.S. President Donald Trump on 22 September, which the South Korean president referenced in his remarks. He said the two leaders discussed cooperation in shipbuilding, “especially the construction of U.S. military vessels.” Lee told investors he expected “more tangible results may be generated in the future” from this discussion.
Lee described South Korea and the United States as “key partners who support each other in industry, the economy and security,” and voiced hope that this cooperation would extend beyond prosperity to contribute to peace on the Korean Peninsula. He called South Korea “the most trustworthy partner that the world needs.”
The Korea Investment Summit is an annual event designed to attract foreign capital to South Korea. Lee’s 2026 appearance placed semiconductor manufacturing and AI supply chain resilience at the centre of that pitch, alongside the promised market reforms. The event was attended by financial and corporate leaders from both countries, Yonhap reported.
