Lee Sang-il, mayor of Yongin Special City, Gyeonggi Province, said on the 1st, "Yongin has ushered in an era of 1,000 trillion won in investment in semiconductors," and "large-scale investments and projects are underway to elevate the city into Korea's representative semiconductor hub and a world-class semiconductor mega cluster."
Through a New Year's address the same day, Lee said, "In the economic sphere of the 8th popularly elected term, many quality corporations, centered on leading companies driving the semiconductor industry, are settling in Yongin or preparing to move in," and stated accordingly.
Lee cited the Yongin investment plans of Korea's leading semiconductor corporations, including Samsung Electronics and SK hynix, as representative cases.
Lee said, "SK hynix recently announced it would expand the investment scale for the 'Yongin Semiconductor Cluster General Industrial Complex' in Wonseom-myeon, Cheoin-gu, which it had initially revealed as 122 trillion won, to more than 600 trillion won," adding, "This takes into account that investment will rise significantly as it enlarges fab capacity and brings in state-of-the-art equipment." In addition, Samsung Electronics has said it will invest 360 trillion won in the national industrial complex in Namsa-eup, Idong.
Lee said, "With an investment scale approaching 1,000 trillion won drawing attention, a new coinage, 'cheonjo gaebyeok (千兆開闢),' has even emerged, and Yongin is undergoing bigger and more meaningful changes than ever."
Investments by semiconductor corporations in Yongin are expected to continue. There are 92 semiconductor materials, parts and equipment corporations that have settled or finalized plans to move into Yongin. These corporations have decided to invest about 340 billion won in Yongin.
Lee said, "Excellent semiconductor materials, parts and equipment corporations such as ASML, Lam Research Korea and Tokyo Electron Korea are also entering Yongin one after another," adding, "More investment and job creation are expected."
He pushed back strongly against claims from some in politics to transfer the Yongin Semiconductor Cluster. Lee said, "There is no need to be swayed by arguments driven by political purposes with this year's local elections in mind, which know nothing about the ecosystem and characteristics of the semiconductor industry, nor about the content and pace of the projects underway in Yongin," adding, "The theory of relocating the Yongin Semiconductor Cluster to the provinces is nothing but a far-fetched tale and is drawing heavy criticism from numerous media outlets."
He went on to say, "Yongin residents and the majority of the public also find it absurd," adding, "We will concentrate all administrative capacity this year as well so that semiconductor projects, including the Yongin National Industrial Complex, continue to proceed smoothly."