Seoul: The ruling Democratic Party (DP) and the government have pledged to enhance their support for the newly announced large-scale chip cluster and artificial intelligence (AI) investment projects, with a commitment to expedite the associated legislative processes.

According to Yonhap News Agency, the government recently introduced its "three mega projects" initiative, which aims to drive a national transformation through semiconductors, physical AI, and AI data centers. This ambitious initiative requires a substantial investment of 4,755 trillion won (US$3.16 trillion).

The plan includes the creation of two memory chip fabrication plants by Samsung Electronics Co. and two additional fabs by SK hynix Inc., to be located in the southwestern city of Gwangju and the surrounding Jeolla provinces.

Han Byung-do, the DP's acting leader, emphasized the party's commitment to supporting these projects. "As the ruling party has already set up a special committee dedicated to supporting the three mega projects, we will provide active legislative and budgetary support," Han stated during a consultative meeting with government officials and ruling party lawmakers. He further mentioned that the DP aims to pass a special act on "mega special zones" by the end of the year to ease regulations and better support the initiative.

Deputy Prime Minister and Finance Minister Koo Yun-cheol also participated in the meeting, where he detailed the government's growth strategy for the second half of 2026. This strategy focuses on boosting economic growth and addressing structural challenges, including income inequality.