Samsung and SK 800trillion won investment, rapid push for Honam semiconductors, selection of the Gwangju military airport site

One week after President Lee Jae-myung announced the '3mega-project,' decisions related to the Honam semiconductor project followed one after another. The total investment plan of 800trillion won proposed by Samsung Electronics and SK hynix is the framework of this project.

After the president’s announcement on the 29of last month, a public-private joint inspection meeting chaired by the president was held on the 6, and at that meeting the Gwangju military airport site was decided as the industrial complex location. In selecting the site, the fact that leveling had already been completed and could shorten construction time was taken into account.

The Gwangju military airport site and nearby areas were designated as a land transaction permit zone on 7the 9. Designation as a land transaction permit zone is a measure to control land transactions and manage development plans.

Chief of Staff Kang Hoon-sik said the completion time for the Honam semiconductor project would be2030years. The report also said the actual groundbreaking timing would be2026at the end of the year or2027at the beginning of the year.

Government announcements, site selection, and land-use regulatory designations were all carried out in quick succession over a short period. The related procedures and disclosures are expected to become key indicators for gauging the pace of progress going forward.