Lee Jae-myung said on the 30th that he received a promise from Samsung Electronics Chairman Lee Jae-yong and SK Group Chairman Chey Tae-won for the "simultaneous push in Yongin and Honam" in connection with the "SuNAM region semiconductor cluster investment plan" worth 800 trillion won. A semiconductor cluster is now being built in Yongin, Gyeonggi, and, separate from that, they will also immediately begin building a Honam semiconductor production facility (fab).
At the "SuNAM region advanced industry development vision public briefing" held that day at the Kimdaejung Convention Center in Gwangju, the president mentioned Chairmen Lee Jae-yong and Chey Tae-won, who decided the previous day on the massive SuNAM region investment, and said, "It seemed they originally intended to finish the (currently under construction) Yongin cluster and then invest here as the next step," adding, "So I told the two chairmen that, since semiconductor demand is surging too much, we should push ahead simultaneously."
He went on, "We will proceed (with investment) simultaneously in the Honam region, and the government will do its best, whether it is fiscal support, infrastructure building, or improving settlement conditions through education." In particular, he said, "I already received such a promise from Samsung Electronics Chairman Lee Jae-yong and SK Chairman Chey Tae-won," adding, "Since demand is surging too much, we said we should push (the Honam and Yongin clusters) simultaneously, and both of them agreed to this."
After introducing this, the president asked Samsung Electronics Vice Chairman Jun Young-hyun and SK hynix CEO Kwak Noh-jung, who attended the briefing, "Do you agree?" Vice Chairman Jun and CEO Kwak bowed and applauded. The president said, "As I promised, I will directly oversee this and take clear responsibility for execution, planning, and overall management," adding, "I will personally check how quickly this can be carried out and show you."
He also said, "By proceeding (in Honam and Yongin) at the same time, I really want to show this region that this is not a 'policy show or political posturing,' but the real thing."
◇ 896 trillion in Honam… Lee: "a decision based on economic principles"
Earlier, Samsung Electronics and SK hynix announced at the "Korea three mega projects national briefing" on the 29th that they would invest 800 trillion won to build four semiconductor fabs in the South Jeolla–Gwangju integrated special city, which launches on Aug. 1. Amkor Technology Korea, a back-end semiconductor company, will also invest 1 trillion won. Cheong Wa Dae is aiming for "completion within the term." The total scale of corporations' investment in Honam is about 896 trillion won, combining the cost to build four fabs, 87 trillion won for an AI data center, and 8 trillion won for other smart appliances and energy.
This investment by Samsung Electronics and SK is an ultra-large project promoted in line with the Lee Jae-myung administration's policy of "balanced regional development." Adding together the fabs under construction in the Seoul metropolitan area such as Yongin and Pyeongtaek, and the Honam region (896 trillion won), the Chungcheong region (392 trillion won), the Yeongnam region (a tentative 270 trillion won), and existing plans, the total comes to 4,700 trillion won. Of that, 3,500 trillion won will be put into the semiconductor sector.
Regarding claims from the opposition and other political circles of "Honam favoritism" and "arm-twisting corporations for votes," the president said it is "in accordance with economic principles." The president said, "As demand is surging, all existing resources in the Seoul metropolitan area are becoming insufficient, and in particular, the water and power sectors have entered a state where solutions are impossible," adding, "The Gwangju–South Jeolla area has become the only region that can solve this problem." This means the decision to make the largest-ever investment in Honam was made at the corporate level, not due to government pressure.