President Moon Jae-in laid out government plans to support and foster the nonmemory chip sector as an economic growth engine while visiting a Samsung Electronics facility in Hwaseong, Gyeonggi Province.

While attending an event on Tuesday to promote the system semiconductors industry, the president said South Korea's success in this sector will position the country as a true, comprehensive global semiconductor powerhouse.

Moon said Korean products will be the leaders of the future, and that Korea aims to maintain the top spot in the memory chip field. 

The president added that it is a goal to reach number one in the system semiconductor foundry sector by 2030 while attaining ten percent of the global market share in fabless manufacturing.

He said the government will invest in people and technology and expand state-led research and development in semiconductors.

It's the first time the president has visited a Samsung Electronics business establishment in Korea since taking office.