President Lee Jae Myung emphasized the need for quick execution of government-led chip cluster and AI investment initiatives by expediting administrative processes, including simplifying environmental impact assessments. He addressed senior government officials and top executives from Samsung Electronics Co. and SK hynix Inc. to discuss the next steps for these projects. The recent unveiling of the “three mega projects” initiative focuses on significant investments in semiconductors, physical AI, and AI data centers as South Korea positions itself for future growth.
Lee highlighted the establishment of a semiconductor production hub in the Honam region, with commitments from Samsung and SK totaling 800 trillion won (US$522 billion). Stressing the intense global competition and the pivotal role of AI in shaping the future, Lee urged proactive identification and resolution of potential project implementation hurdles. He underscored the importance of preventing delays in investments due to bureaucratic processes, advocating for a streamlined approach to mandatory procedures, especially environmental impact assessments for the chip cluster plan.
In his push to accelerate the projects, Lee called for parallel processing of essential administrative steps rather than a sequential approach. He also urged immediate action to secure essential resources like electricity and water for the chip cluster, emphasizing the need to expedite site selection for the investment ventures.
