President Lee launches '3 major mega-projects' to secure nation's future

President Lee Jae-myung has unveiled a bold "3 major mega-projects" initiative, positioning it as a critical strategy for South Korea's future economic and developmental trajectory. The ambitious plan centers on semiconductors, artificial intelligence data centers, and physical AI, with the president asserting that the success of these ventures will "take responsibility for Korea's next 20 to 30 years." The Blue House has designated these projects as signature undertakings of the Lee administration, signaling a commitment to mobilizing national capabilities to ensure their success.

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National balanced development is Korea's core survival strategy.

The initiative is driven by a dual objective: to secure a leading position in future growth industries and to foster balanced national development. President Lee emphasized that in an era of "AI great transformation," securing a dominant role in the semiconductor industry is paramount. This aligns with his broader vision of "5 mega-regions and 3 special self-governing provinces," aimed at decentralizing development away from the Seoul metropolitan area. He noted the "intensifying inefficiencies due to concentration" leading to a crisis of the capital region being "on the verge of explosion" and the provinces "on the verge of extinction."

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The achievements of the 3 major mega-projects we will build will be responsible for Korea's next 20 to 30 years.

Specifically, the plan includes establishing a "second semiconductor production hub" in the Honam region, an area historically underserved by development. This region, rich in water and renewable energy resources, is set to receive substantial investment. Samsung Electronics and SK Group have pledged to invest 800 trillion won in the Honam area to build four memory fabrication plants. The success of this project is seen as a crucial determinant of President Lee's administration, with its large-scale private investment requiring swift and effective execution to maintain national momentum.

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This place will be the starting point for carrying out this weighty task.

To ensure rapid progress, President Lee has declared he will directly oversee the projects, establishing a dedicated liaison within the Blue House. A "Special Committee for Semiconductor Industry Competitiveness Enhancement" is also slated to launch in August, chaired by the president himself, following the implementation of the Semiconductor Special Act. Industry experts, however, advise that sustained, institutionalized support beyond mere government promises, such as special laws or zones, is crucial. They also highlight the need for simultaneous development of infrastructure, including electricity, industrial water, workforce training, and housing, requiring the resolution of inter-agency institutional complexities.

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In the industrialization era, we inevitably pursued a capital-centric policy due to a lack of resources, a strategy of 'all-in.' However, nowadays, inefficiencies from concentration are intensifying, leading to a crisis where the capital region is on the verge of explosion and the provinces are on the verge of extinction.