Gwangju: A military airport in the southwestern city of Gwangju has been selected as the site for a government-led semiconductor production cluster, a presidential official announced on Monday. The decision was made during a meeting between government officials and top executives from leading chipmakers Samsung Electronics Co. and SK hynix Inc., as part of discussions on follow-up measures for the investment project, presidential chief of staff Kang Hoon-sik revealed at a press briefing.

According to Yonhap News Agency, the president plans to hold monthly meetings to personally monitor the progress of this significant investment project. The proposed semiconductor production cluster is a component of the government's "three megaprojects" initiative, which focuses on substantial investments in semiconductors, physical artificial intelligence (AI), and AI data centers in regional areas.

As part of the chip cluster project, Samsung Electronics Co. and SK hynix Inc. have committed to investing a combined 800 trillion won (US$522 billion). This represents the largest investment initiative to date in the southwestern Gwangju and Honam region. Kang Hoon-sik stated that the government will expedite the administrative process to designate the candidate site, following consultations with related ministries.

The presidential official highlighted that the companies proposed the military airport site due to its advantages, including an 8.3 million-square-meter expanse of already leveled land, which would reduce preparation time. Additionally, its proximity to Gwangju's downtown area and railway station would ensure convenient access for workers and efficient transportation of goods.

Kang also mentioned that the president has decided to establish a dedicated body within Cheong Wa Dae to oversee the projects and ensure their successful implementation.