South Korea to invest $1.2 trillion in chip and AI data center development
via Punch Nigeria3 min read
South Korea plans to invest nearly $1.2 trillion in a new chip-building hub and AI data centers over several years. This initiative aims to capitalize on the increasing demand for AI technologies and foster development in previously underserved regions. President Lee Jae Myung emphasized the importance of securing core AI elements rapidly. Samsung Electronics and SK hynix will contribute approximately $520 billion 800 trillion won to a new semiconductor fabrication hub in the country's southwest. Additionally, the government announced a separate investment of about $650 billion 1,000 trillion won in AI data centers over the next decade. Industry Minister Kim Jung-kwan stated that the Samsung-SK hynix project will include four fabrication plants, with permit approvals and construction timelines significantly shortened to expand production capacity. Science Minister Bae Kyung-hoon added that 550 trillion won will be invested in AI data centers by 2029, with a total investment exceeding 1,000 trillion won and 18.4 gigawatts by 2035. This investment is the largest in South Korea's history. The southwestern region of Honam, a traditional liberal stronghold, has historically lagged behind the more industrialized southeast. Concerns were raised by Kim Dae-jong, a professor of Business Administration at Sejong University, regarding the potential for the massive investment to backfire without incentives for companies to relocate, which could impact semiconductor competitiveness. Analy
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The Federal Ministry of Works has prohibited commercial motorcycles and tricycles on the Lagos-Calabar Coastal Highway, effective this week. Federal Controller of Works in Lagos State, Mr. Olufemi Dare, announced the ban, stating it is intended to protect the new superhighway from misuse and deterioration. The restriction also applies to all bridges across Lagos State. Additionally, the ministry has banned indiscriminate parking of trucks and articulated vehicles, as well as the disposal of refuse along highway corridors. Signages indicating these restrictions have been installed, and task force officials will be deployed to ensure compliance. Mr. Dare emphasized that these measures are crucial for preserving the road's long-term sustainability and maintaining the value of the "world-class infrastructure" for Nigerians, urging all road users to comply for public safety.
Must ReadTop leaders of the Islamic State of West Africa Province ISWAP and 76 foot soldiers, along with their families, have surrendered to troops of Operation Hadin Kai in Nigeria's North East region. Captain Muhammad Goni, the Acting Military Information Officer for Headquarters Joint Task Force North East Operation Hadin Kai, announced this development. He stated that the insurgents abandoned their enclaves and surrendered due to sustained military pressure. The surrendered individuals, including key members of the terrorist network, are currently undergoing profiling, debriefing, and other established procedures. This surrender highlights the impact of Operation Hadin Kai's offensive, which aims to dismantle terrorist strongholds, disrupt their command and logistics, and diminish their operational capabilities. Goni emphasized that these operational gains demonstrate the effectiveness of the Nigerian military's counter-terrorism strategy, which combines combat operations, intelligence-led engagements, and coordinated efforts with partners. He affirmed Operation Hadin Kai's commitment to defeating terrorism and restoring peace and security in the North East.
American actress and singer Teyana Taylor and hip-hop duo Clipse each won three awards at the 2026 BET Awards held in Los Angeles. Taylor received Best Actress, Video Director of the Year, and the Fashion Vanguard Award, in addition to the Icon of the Year award. Clipse secured Album of the Year for "Let God Sort 鈥楨m Out," Best Group, and Best Collaboration for "Chains & Whips" with Kendrick Lamar. Kendrick Lamar also won Best Male Hip Hop Artist for the ninth time, and Kehlani took home Best Female R&B/Pop Artist and Video of the Year for "Folded." British singer Olivia Dean won Best New Artist, while Cardi B was named Best Female Hip Hop Artist. Leon Thomas won Best Male R&B/Pop Artist. In film, "Sinners" won Best Movie, and Michael B. Jordan received Best Actor. Ms. Lauryn Hill was honored with the Living Legend Icon Award, and Sylvia Rhone received the Ultimate Icon Award. Jazlyn Guerra of Jazzy鈥檚 World TV won the YoungStars Award.