Seoul: President Lee Jae Myung on Monday emphasized the urgent need for the government to expedite its investment initiatives focused on artificial intelligence (AI)-related facilities, urging for deregulation to facilitate swift implementation. The president made his remarks during the second meeting aimed at evaluating the progress of the "three megaprojects" unveiled by his administration in June, which includes plans for large-scale investments in semiconductor production clusters, physical AI, and AI data centers across regional areas.
According to Yonhap News Agency, the semiconductor cluster project alone has seen commitments from leading chipmakers Samsung Electronics Co. and SK hynix Inc. to invest a total of 800 trillion won (US$564.9 billion). This initiative marks the largest investment plan to date for the southwestern city of Gwangju and the surrounding Honam area. President Lee emphasized the need for simultaneous administrative actions to reduce implementation time, advocating for regulatory improvements to ensure rapid progress.
"We are in a situation where we must go beyond being speedy and move with the speed of lightning," said Lee. He also directed officials to facilitate the transfer of a military airport in Gwangju to temporary facilities by 2028, enabling the rapid conversion of the regional airport into a semiconductor production hub. The government previously designated the military airport as the site for the planned chip cluster.
The president stressed that the overarching goal of the investment initiative is to distribute growth across the country, transforming regional areas into new centers of future industries. He expressed his hope that the benefits derived from the community's combined efforts would be shared broadly, rather than being confined to specific companies or regions.
President Lee concluded by designating the following year as a "golden time" for South Korea, emphasizing the importance of preparation in opening up new opportunities for the nation. He urged officials to exert maximum effort in realizing these ambitious plans.