India, June 29 -- South Korea has unveiled mega plans to enhance the country's chip manufacturing and artificial intelligence (AI) capabilities thruogh corporate investments.

Under the plan announced by President Lee Jae-myung on Monday, Samsung Electronics and SK Hynix will develop a semiconductor manufacturing hub in the country's southwestern region.

South Korea's two largest chipmakers will construct four memory chip fabrication plants in Gwangju and Jeolla.

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