▲ SK Hynix and Samsung Electronics
Samsung, SK Hynix, Celltrion, and other companies are set to invest approximately 392 trillion won in the Chungcheong region, focusing on semiconductors, displays, secondary batteries and components, and biotechnology.
The government announced the "Chungcheong Region Next-Generation Advanced Industry Promotion Strategy" and decided to support the companies' large-scale investments by launching a comprehensive policy package.
The government made the announcement today (July 2) at the "National Report on the Development Vision for Advanced Industries in the Chungcheong Region," held in Asan, South Chungcheong Province.
After outlining their general nationwide investment plans at the Presidential Office on June 29, the companies followed up with investment plans for the Honam region on June 30, and today, they announced their plans for the Chungcheong region.
Samsung plans to invest approximately 140 trillion won in OLED and next-generation display lines, HBM (High Bandwidth Memory) fabs and packaging, high-performance package substrates for AI servers, and state-of-the-art battery manufacturing mother lines.
SK Hynix announced plans to invest approximately 100 trillion won in NAND and advanced packaging fabs, while Celltrion stated it would pursue investments of about 2 trillion won in biopharmaceutical production facilities.
Other companies are also expected to concentrate investments of approximately 392 trillion won in the Chungcheong region, including about 150 trillion won in AI data centers.
To fully support these corporate investments, the government unveiled the "Chungcheong Region Next-Generation Advanced Industry Promotion Strategy."
The government plans to launch a "7-Point Investment Support Booster Program" that integrates finance, regulation, technology, taxation, human resources, and infrastructure, and to designate and operate "Mega Special Zones" to drastically ease complex regulations.
It also announced plans to foster a robust local industrial ecosystem and revitalize industry-academia-research innovation centered on the investing companies.
Furthermore, the government stated it will immediately launch the "Chungcheong Region Advanced Strategic Industry Leap Task Force," a cross-ministerial support organization, to prepare a comprehensive support plan within 100 days and swiftly resolve corporate difficulties regarding site selection, permits, electricity, water supply, human resources, and finance.
At today's event, a "Chungcheong Region Next-Generation Advanced Industry Investment Agreement Ceremony" was held between the companies that announced their investment plans (Samsung, SK Hynix, and Celltrion) and central and local governments.
Under the agreement, the companies will implement their investments in advanced industries in the Chungcheong region, and each ministry will actively pursue its respective duties to create an ecosystem for advanced industries.
Minister of Trade, Industry and Energy Kim Jung-kwan emphasized, "The growth of advanced industries in the Chungcheong region is the future of our nation's industry," adding, "We will do our utmost to ensure that the investment plans announced today lead to the fruition of an 'irreplaceable Republic of Korea.'"
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