South Korea unveiled three megaprojects investing 4,755 trillion won in semiconductors, physical AI, and AI data centres
SEOUL
South Korean President Lee Jae Myung has defended the government’s ambitious regional development programme, saying the newly announced mega projects are designed to secure the country’s future and are not intended to improve his political approval ratings. He rejected criticism from opposition parties and said the initiative focuses on long-term national growth rather than short-term political gains.
Earlier this week, the South Korean government unveiled its “three megaprojects” plan, which aims to transform the country’s economy through investments in semiconductors, physical artificial intelligence, and AI data centres. The programme proposes a total investment of 4,755 trillion won, making it one of the country’s largest development plans.
As part of the initiative, Samsung announced plans to establish two memory chip manufacturing plants in the southwestern city of Gwangju. SK hynix also revealed plans to build two semiconductor fabrication plants in the surrounding Jeolla provinces under a combined investment plan valued at 800 trillion won.
Responding to allegations from the main opposition People Power Party, Lee said that if the projects had been launched for political advantage, they would have been announced before the local elections held on June 3. Instead, he said the vision for national transformation had been part of his long-term plans even before assuming office.
The President said the real measure of success is not public opinion surveys but improvements in the lives of ordinary citizens. He expressed confidence that the projects would generate new opportunities, strengthen the economy, and provide greater hope for future generations. He also pledged to make every effort to create employment, encourage innovation, and inspire young people with better career prospects.
Meanwhile, Lee is scheduled to chair a high-level meeting next week to review progress on the proposed semiconductor production cluster in the country’s southwestern region. According to the presidential office, the meeting will bring together government officials and private industry representatives to examine implementation plans and accelerate the projects.
The upcoming review will be the first strategic meeting since the investment programme was announced. Lee has promised to personally monitor its progress, stressing that timely execution is essential to strengthening South Korea’s technology sector, boosting industrial competitiveness, attracting investment, and building a stronger economy capable of meeting future global challenges and sustaining long-term national development.
