Samsung Group is preparing to announce a massive long-term investment of 1,000 trillion won (about $647.53 billion) in South Korea over the next 10 years, according to a media report released on Friday.

The company is expected to unveil the plan on Monday during a meeting with South Korean President Lee Jae Myung at the presidential office, the Maeil Business Newspaper reported.

The report said Samsung could spend up to 300 trillion won to build new semiconductor manufacturing plants in the country's southwest region.

Samsung Plans Major Expansion in Chip Manufacturing

If Samsung confirms the investment, it will become one of the biggest long-term corporate investment plans in South Korea's history.

The company is expanding its semiconductor business as global demand for advanced chips continues to grow. Artificial intelligence, cloud computing and high-performance computing have sharply increased the need for powerful semiconductors.

Samsung Electronics, the world's largest memory chip maker, has already invested heavily in advanced chip technology and AI-related semiconductors. The company also wants to strengthen its leadership in the global memory chip market.

The proposed investment in new fabrication plants shows Samsung is preparing for future demand despite rising production costs, supply chain changes and ongoing geopolitical tensions.

Investment Will Extend Beyond Seoul

The investment plan also supports South Korea's efforts to reduce the concentration of industries around Seoul.

According to the report, executives from Samsung Electronics and rival SK Hynix will attend Monday's meeting to present investment plans focused on regions outside the capital.

For years, South Korean governments have encouraged major companies to build factories and research centres in other parts of the country. The goal is to promote balanced regional growth and reduce economic inequality.

Samsung's reported investment in the southwest could create thousands of direct and indirect jobs while supporting regional economic development.

President Lee Focuses on Industrial Growth

The meeting will also support President Lee Jae Myung's broader industrial development strategy. On Thursday, the presidential office announced plans to hold a public briefing on "three mega-projects for South Korea's great leap forward." Officials said they would release more details about the meeting soon.

Executives from Samsung Electronics, SK Hynix and several other leading South Korean companies are expected to attend as the government pushes for greater investment and regional development.

Global Competition for Semiconductor Leadership

Samsung's reported investment reflects the growing global race to expand semiconductor production. Countries including the United States, European nations and several Asian economies have introduced incentives to attract chip manufacturers. Governments now consider semiconductor production both an economic priority and a matter of national strategic importance.

By expanding its manufacturing capacity in South Korea, Samsung could strengthen the country's position in the global semiconductor supply chain. The investment would also improve Samsung's competitiveness in memory chips and contract chip manufacturing.

If Samsung officially announces the plan on Monday, it will underline South Korea's determination to remain a global leader in semiconductor production and benefit from the rapid growth of AI-driven technologies.