Gwangju: A military airport in the southwestern city of Gwangju was selected Monday as the site for a government-led project to create a semiconductor production cluster, a presidential official said. The selection was made during a meeting between government officials and top executives of leading chipmakers, Samsung Electronics Co. and SK hynix Inc., to discuss follow-up measures for the investment project, presidential chief of staff Kang Hoon-sik stated at a press briefing.

According to Yonhap News Agency, Kang added that the president will hold monthly meetings to personally check the progress in the investment project. The envisioned chip production cluster is part of the government's "three megaprojects" initiative, which focuses on large-scale investments in semiconductors, physical artificial intelligence (AI), and AI data centers in regional areas.

Under the chip cluster project, Samsung Electronics Co. and SK hynix Inc. have pledged to invest a combined 800 trillion won (US$522 billion). This marks the single-largest investment plan to date in the southwestern Gwangju and Honam area, highlighting the significant commitment to advancing the semiconductor industry in the region.