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🇰🇷 South Korea /Economy & Trade

Cheongju Forms Task Force to Support SK Hynix's 100 Trillion Won Investment

From Hankyoreh · () Korean

Translated from Korean, summarized and contextualized by DistantNews.

At a glance

News Named sources New plan
  • Cheongju City established a dedicated task force to support SK Hynix's 100 trillion won investment plan, focusing on infrastructure like water and power.
  • The city will consider easing zoning and height restrictions, similar to Yongin, to facilitate the semiconductor cluster.
  • Environmental groups raised concerns about safety measures and potential citizen inconvenience due to increased resource usage.

Cheongju City has formed a dedicated task force to ensure the timely realization of SK Hynix's ambitious 100 trillion won investment plan. The 'SK Hynix Investment Support TF' will streamline inter-departmental cooperation and establish a control tower to maximize support for the semiconductor giant's expansion. The task force will be led by Cheongju Vice Mayor Shin Byeong-dae and include representatives from six city departments, as well as external agencies like Korea Electric Power Corporation (KEPCO) and the Air Force.

SK Hynix's investment schedule requires breaking down departmental barriers and establishing a control tower system to maximize implementation.

— Cheongju CityExplaining the rationale behind forming the dedicated task force.

SK Hynix announced its plan to invest 100 trillion won in its Cheongju Techno-Polis complex, including 80 trillion won for the M-17 mega fab for next-generation NAND flash and 20 trillion won for P&T construction. To support this massive investment, Cheongju City pledged "unprecedented, efficient, and timely support." This includes reviewing the easing of zoning and height restrictions, potentially mirroring the 490% lot coverage ratio approved for Yongin's semiconductor cluster. The city is also enhancing water infrastructure, planning to add 110,000 cubic meters of industrial water daily by June 2027 through a 27.8 billion won project, and will expand power supply in coordination with KEPCO.

We know that Yongin's lot coverage ratio was eased to 490% for its semiconductor cluster. We are also considering easing the current 350% lot coverage ratio for general industrial areas in consultation with the Ministry of Land, Infrastructure and Transport and the Ministry of Trade, Industry and Energy.

— Jeong In-sookCheongju City Investment Strategy Team Leader, discussing potential zoning changes.

However, the planned expansion has also sparked concerns among environmental groups. Lee Seong-woo, policy director of the Cheongju-Chungbuk Environmental Movement Federation, emphasized the need for enhanced safety measures, citing recent chemical leaks and fires at SK Hynix facilities. He also called for comprehensive plans to address potential citizen inconvenience related to the increased demand for water and electricity. Vice Mayor Shin acknowledged these concerns, stating that the city will proceed with support while carefully addressing citizen anxieties and ensuring their comfort.

Given the recent chemical leaks and fires at SK Hynix's factory, safety measures must be guaranteed before expanding the factory on a large scale.

— Lee Seong-wooPolicy Director of the Cheongju-Chungbuk Environmental Movement Federation, expressing safety concerns.
DistantNews Editorial

Originally published by Hankyoreh in Korean. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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