South Korea Launches 896 Trillion Won Southwestern Investment Drive

President Lee Jae-myung is set to attend a public briefing in Gwangju on June 30, marking a significant push for large-scale investment in South Korea's southwestern region. The "Southwestern Advanced Industry Development Vision Public Briefing" will highlight a massive 896 trillion won investment plan, primarily driven by major corporations.

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The government and companies will foster the southwestern region as a new growth hub for South Korea's advanced industries.

Samsung Electronics and SK Hynix have pledged substantial investments, including the construction of four semiconductor fabrication plants and the establishment of an ecosystem for suppliers and workforce development. Amkor Korea will also expand its advanced semiconductor packaging facilities. These commitments, announced previously, underscore a strategic effort to bolster the region's industrial capabilities.

The briefing will feature direct presentations from key company representatives, including Samsung Electronics Vice Chairman Jeon Young-hyun and SK Hynix CEO Kwak Noh-jung. They will detail their investment plans, which encompass cutting-edge semiconductor production facilities and AI data centers. The government's role in fostering this growth will be further elaborated by the Minister of Trade, Industry and Energy, Kim Jeong-kwan, who will present the "Southwestern Advanced Industry Nurturing Strategy," and the Minister of Land, Infrastructure and Transport, Kim Yun-deok, who will outline plans for supporting industrial complex site selection.

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We will invest in state-of-the-art semiconductor production facilities and AI data centers.

The event is poised to culminate in the signing of investment memorandums of understanding (MOUs) between the government and participating companies. This initiative signals a concerted effort to position the southwestern region as a pivotal center for South Korea's advanced industrial future, aiming to create new growth engines for the nation.

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We will expand our advanced semiconductor packaging facilities.