President Lee: Chungcheong to become global AI hub with 392 trillion won investment
Translated from Korean, summarized and contextualized by DistantNews.
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- President Lee Jae-myung announced plans for the Chungcheong region to become a global hub for the AI era, attracting significant investment.
- Major companies including Samsung Display, SK Hynix, and Celltrion announced plans to invest a total of 392 trillion won in advanced industries in the region.
- The investment aims to bolster IT, materials, and components, positioning Chungcheong as a key player in South Korea's technological advancement.
President Lee Jae-myung has declared the Chungcheong region's ambition to transform into a global innovation center, spearheading the artificial intelligence (AI) era. Speaking at a national report on the region's advanced industrial development vision, Lee emphasized Chungcheong's existing strengths in manufacturing, research institutions, and skilled talent.
"Chungcheong will stand tall not just as the center of South Korea's advanced industries, but as a global innovation hub leading the AI era," Lee stated at the event held at Samsung Display's Asan campus. He highlighted the region's central location within the country as an advantage for becoming a global hub for IT materials and components.
Chungcheong will stand tall not just as the center of South Korea's advanced industries, but as a global innovation hub leading the AI era.
The announcement was bolstered by substantial investment pledges from leading South Korean corporations. Samsung Display plans to invest 140 trillion won in organic light-emitting diode (OLED) and next-generation display lines. SK Hynix committed 100 trillion won towards NAND flash memory and advanced packaging facilities. Celltrion Pharmaceutical will invest approximately 2 trillion won in biopharmaceutical production sites. In total, these commitments amount to a staggering 392 trillion won.
President Lee drew a parallel between the current investment drive and the late Samsung founder Lee Byung-chul's decision in 1983 to enter the semiconductor industry. "Just as that foresight made South Korea a semiconductor powerhouse, I am confident that Chairman Lee's decision today will lead a new leap forward for South Korea's advanced industries," Lee remarked, referencing Samsung Electronics Chairman Lee Jae-yong who was present at the event.
Just as that foresight made South Korea a semiconductor powerhouse, I am confident that Chairman Lee's decision today will lead a new leap forward for South Korea's advanced industries.
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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