Lee Jae-yong, chairman of Samsung Electronics, is scheduled to meet privately with President Yoon Suk Yeol on June 25 at the Blue House. This meeting is seen as a final effort to coordinate Samsung's regional investment plans ahead of the government's announcement of a balanced regional development strategy at the end of the month.
According to sources in the business and political sectors on June 23, Lee will focus on discussing investment plans in advanced industries, including semiconductors, during his meeting with the president. Prior to this, President Yoon met with Chey Tae-won, chairman of SK Group, in a private meeting on June 19. Observers suggest that these discussions between the two leading figures in the semiconductor industry are aimed at finalizing the scale of regional investments in artificial intelligence (AI) and semiconductors, which are crucial for future growth.
Lee's decision is expected to mark the finalization of a large-scale investment project that the government and the business community have been preparing for a long time. Samsung is reportedly considering establishing a semiconductor packaging plant in Gwangju. SK Hynix is also pursuing the establishment of a semiconductor backend production facility and is contemplating additional sites for an AI data center beyond the one currently being developed in Ulsan.
Prime Minister Kim Min-seok indicated during a press conference marking his first year in office that "large corporations' regional investments will soon materialize, leading to a transformative change in local economies," hinting at significant investments from major companies, including Samsung. The strategy aims to distribute key production bases, which have a high employment impact, to revitalize local economies facing decline.
The presidential office and the government are reportedly working diligently to provide financial and institutional incentives to support Lee's bold investments. Chief of Staff Kang Hoon-sik mentioned during a senior aide meeting that "the surplus tax revenue expected from the semiconductor boom should be invested in projects for future generations," emphasizing the need to find rational alternatives from the perspective of national interest and future generations. This suggests that the government will ensure substantial incentives, such as tax benefits and infrastructure support, for corporate regional investments.
Business leaders view Lee's upcoming private meeting as a potential signal for substantial investments rather than a mere formal gathering. Given that this individual meeting is set just four days before the June 29 gathering of major corporate leaders at the Blue House, it is expected that Lee will have the opportunity to directly address the president about the challenges faced by businesses while securing a firm commitment for government support.
* This article has been translated by AI.
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