President Lee: Yeongnam to become 'super-gap' advanced industry hub with 312 trillion won investment

President Lee Jae-myung has declared the Yeongnam region as the birthplace of South Korea's "super-gap" advanced industries, unveiling a vision that aims to attract 312 trillion won (approximately $220 billion USD) in investments. Speaking at a national report session on the development vision for the Yeongnam region's advanced industries in Jinju, Gyeongnam Province, President Lee emphasized that this initiative marks the beginning of establishing Yeongnam as a leading region for advanced industries.

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Yeongnam, the cradle of South Korea's industry, will now be reborn as the birthplace of the nation's 'super-gap' advanced industries.

The plan involves integrating cutting-edge technologies such as physical AI and aerospace with the region's robust manufacturing foundation. Major conglomerates are backing this vision with substantial investments. Hanwha Group plans to invest around 55 trillion won in satellites and launch vehicles. Hyundai Motor Group will invest approximately 42 trillion won in AI-based autonomous mobility. Samsung intends to invest about 60 trillion won to build production lines for humanoid robots and next-generation batteries, while SK Group will invest around 14 trillion won to establish a 2-gigawatt AI data center.

President Lee highlighted Yeongnam's status as South Korea's top manufacturing hub and its potential to become a global center for advanced manufacturing. He stressed the focus on nurturing the "physical AI" sector, which includes next-generation semiconductors, AI data centers, the nation's largest robot industry innovation belt, and the world's leading shipbuilding industry. The goal is to transform manufacturing sites into intelligent industries.

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By integrating advanced technologies like physical AI and aerospace with Yeongnam's solid manufacturing base, South Korea will lead the future global market.

Furthermore, the government plans to actively develop the "South Sea Space Industry Belt," positioning aerospace as a new growth engine for the Yeongnam region. This belt will connect satellites, launch vehicles, and future aircraft, fostering new space-related industries. President Lee pledged full national support for the companies making these significant investments, promising tailored government assistance encompassing tax benefits, financial support, deregulation, and infrastructure development.

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The government will mobilize national capabilities to respond to the bold moves of companies that have decided on large-scale investments.