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Samsung Electronics and SK Hynix will jointly announce investment commitments exceeding 1,000 trillion won ($646 billion) at a meeting with South Korean President Lee Jae-myung on June 29, targeting a new semiconductor cluster in Gwangju and accelerating the AI memory race. The announcement comes days after SK Hynix briefly overtook Samsung as South Korea's most valuable company, a 26-year first driven by its 61% dominance of the high-bandwidth memory market that powers AI infrastructure.