Samsung is reportedly set to announce a plan to invest 100 trillion Korean won in South Korea next week.

According to local media reports on Friday, Samsung Group will announce a plan to invest 100 trillion Korean won in South Korea over the next 10 years, including a possible investment of 30 trillion Korean won to build a chip factory in the southwest of Korea. The report states that Samsung's chairman Lee Jae-yong will announce this news at a meeting hosted by South Korean President Moon Jae-in at the Blue House. Executives from multiple companies, including Samsung and its competitor SK Hynix, will attend the meeting to announce investment plans for areas outside of Seoul and nearby cities. The production facilities of these chip manufacturers are currently concentrated in the outskirts of Seoul, and now they face pressure to increase investments in other regions of Korea.