KOR
▲ President Lee Jae-myung delivers a congratulatory speech at the National Report on the Development Vision for Advanced Industries in the Chungcheong Region, held in Asan, South Chungcheong Province, on July 2.
President Lee Jae-myung stated, "The very idea that one can pressure companies to attract investment using the outdated mindset of government-led administration is a relic of the past."
This was a rebuttal to claims from some quarters that companies announced large-scale regional investment plans, such as the "three mega projects," due to government pressure.
During his speech at the "National Report on the Development Vision for Advanced Industries in the Chungcheong Region" held in Asan, South Chungcheong Province, today (July 2), President Lee said, "I see that some people still hold the outdated view that Samsung Electronics made such investment decisions because I pressured Chairman Lee Jae-yong."
President Lee emphasized, "In this day and age, what company would relocate just because someone pressures them to come? The government must make efforts to create the right conditions, build a track record, and foster an environment where companies essential to the local industrial economy can establish themselves."
He added, "We are no longer competing only within the domestic market. We can only compete when we create the most efficient conditions, including the most rational and transparent systems, the most efficient order, and appropriate support."
President Lee also refuted arguments regarding the alleged neglect of certain regions that have been raised by some in political circles following the announcement of the "three mega projects."
He stressed that large-scale regional investment is a choice for national survival and a strategy for balanced regional development, stating, "Corporate investment is not about handing out gifts."
He further emphasized, "The government's role is to prepare, persuade, and provide the necessary infrastructure so that useful and efficient industries can be located in those regions. We must create a situation where companies find that their interests align and conclude that it is much better to operate there."
He criticized the situation, saying, "If people approach this by asking 'why isn't it being distributed to our neighborhood' without making any special effort, and if politicians stir up sentiment and get angry along with them, how can the neighborhood possibly develop?"
Today's report was attended by Samsung Electronics Chairman Lee Jae-yong, SK Hynix CEO Kwak Noh-jung, and Celltrion Chairman Seo Jung-jin, who announced their respective investment plans for the Chungcheong region.
In particular, Samsung expressed its intention to invest 140 trillion won to operate the Chungcheong region as a "hub for super-gap materials and components."
The plan includes 67 trillion won by Samsung Display in Asan, 56 trillion won by Samsung Electronics for HBM (High Bandwidth Memory) fabs in Onyang and Cheonan, 9 trillion won by Samsung SDI for batteries in Cheonan, and 8 trillion won by Samsung Electro-Mechanics for package substrates in Sejong.
SK Hynix announced plans to invest a total of 100 trillion won in Cheongju, North Chungcheong Province, including 80 trillion won for the M17 fab to produce NAND flash and 20 trillion won for PNT7 to strengthen advanced packaging.
Celltrion Pharm announced plans to invest approximately 1 trillion won in a PFS (pre-filled syringe) production facility.
In the "South Korea's 3 Mega Projects" announced on June 29, the government and the business sector revealed plans to invest a total of 392 trillion won in the Chungcheong region (156 trillion won for semiconductors, 150 trillion won for AI data centers, and 86 trillion won for other sectors including displays, batteries, and bio).
(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.
