Seoul, June 30 -- South Korean President Lee Jae Myung labeled Samsung Electronics Chairman Lee Jae-yong and SK Group Chairman Chey Tae-won "national heroes" during a push for a massive 900 trillion won (USD 583 billion) semiconductor investment project.

According to a news report by The Korea Herald, the South Korean government is backing an extensive initiative to build a new semiconductor production belt outside the Seoul metropolitan area to leverage the global artificial intelligence boom. The plan aims to double the nation's DRAM (dynamic random-access memory) production capacity within five years by establishing a "3S+1F" strategy focused on speed, stronghold, and spearhead.

At a presidential public briefing on the government's t...