South Korean President Drives "Mega-Projects," Focusing on Semiconductor Cluster Acceleration

South Korean President Lee Jae-myung is pushing for an accelerated development of the nation's "three mega-projects," with a particular focus on a new semiconductor cluster. He convened a joint public-private review meeting on the southwestern semiconductor cluster just one week after Samsung Electronics and SK Hynix announced an 800 trillion won (approximately $570 billion) investment plan for the region.

The president expressed a strong commitment to realizing the semiconductor cluster within his term. The meeting, held at the Blue House, included key government officials from various ministries, as well as CEOs from Samsung and SK Hynix. Discussions centered on concrete implementation strategies and government support, including streamlining approval processes.

These three mega-projects, spanning the southwestern, central, and southeastern regions, represent the largest investment plan in South Korea's history, totaling 1,600 trillion won ($1.14 trillion). The southwestern cluster alone accounts for 896 trillion won, with further investments planned for semiconductor packaging in the central region and AI/aerospace in the southeast.

President Lee has pledged to personally oversee the semiconductor industry's growth, announcing plans to establish a special committee within the Blue House dedicated to enhancing competitiveness. He aims for this task force to outline its specific direction by the end of the month, signaling a determined push to solidify South Korea's position in the global semiconductor market.

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I will personally pay close attention and take special care.