President Lee Pledges Personal Oversight for 896 Trillion Won Southwestern Investment

President Lee Jae-myung made a direct appeal in Gwangju on Tuesday, pledging his personal oversight and ultimate responsibility for the planned 896 trillion won investment in the southwestern region. The ambitious plan includes a significant semiconductor cluster and other advanced industrial projects by major companies like Samsung Electronics and SK Hynix.

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I will personally oversee it and take full responsibility.

Addressing concerns about regional disparities, Lee stated during a morning State Council meeting that while Honam's investment is substantial, it pales in comparison to historically accumulated investments elsewhere. Later, at the "Southwestern Region Advanced Industrial Development Vision National Report" held in Gwangju, he asserted that the site selection was driven by "economic principles." He explained that the region's advantages in water, power, land, and infrastructure make it the "only area that can solve the semiconductor shortage problem."

The president underscored the historical importance of the Honam region, invoking the phrase 'If there was no Honam, there would be no country' ('약무호남 시무국가'). He framed the current investment as a "historical and national compensation" for the region's enduring support for democracy despite past discrimination. Lee vowed to ensure the projects proceed without a hitch, emphasizing his commitment to overcoming any challenges.

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The site selection, regarding which there are various opinions, is clearly based on economic principles.

Lee also clarified the timeline for these massive investments. He revealed that the original plan was to complete the Yongin cluster first, then proceed to Honam. However, due to surging demand, he proposed pursuing both simultaneously. Addressing Samsung Electronics Vice Chairman Jeon Young-hyun and SK Hynix CEO Kwak Noh-jeong, who were present, he asked for their confirmation, implying their agreement to the accelerated timeline.

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If there was no Honam, there would be no country.

He further emphasized that the government's role was to "induce" rather than "force" these corporate decisions through policy adjustments and creating a favorable environment. Lee promised maximum government support, including financial aid, infrastructure development, and improvements in living conditions, to ensure the investments are "real" and not just a "policy show." He also mentioned that the newly elected mayor of the integrated Jeonnam-Gwangju special city, Min Hyung-bae, has pledged up to 20 trillion won for necessary infrastructure.

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We proposed pursuing it simultaneously.