Minister Kim Jung-kwan of the Ministry of Trade, Industry and Resources said on the 29th that a "second semiconductor base" would be created in the Honam region through a total of 800 trillion won in corporations investment. He also said a total of 81 trillion won would be invested to develop the Chungcheong region into an advanced packaging hub. With this, Samsung Electronics will build a new production facility in Honam following the Pyeongtaek fab under construction in Gyeonggi, the Taylor fab in Texas, U.S., and the Yongin fab in Gyeonggi.
The Minister announced this public-private investment plan at the "National briefing on the three mega projects for Korea's great leap" presided over by President Lee Jae-myung that day, saying, "We will turn all of Korea into a semiconductor cluster." The Minister said, "We will develop the southwest region into a 'second semiconductor production base,'" and added, "We will build four memory fabs through 800 trillion won in corporations investment."
He also said, "We will maintain an overwhelming market gap in memory semiconductors," and "In the Chungcheong region, we will cultivate advanced packaging technology so it can respond to the increased packaging demand that will arise as semiconductor production capacity expands." Accordingly, Samsung Electronics and SK hynix plan to invest a total of 81 trillion won in the Chungcheong region.