On July 3, the Blue House announced this investment plan during the 'Yeongnam Advanced Industry Development Vision National Briefing' held in Jinju, South Gyeongsang Province.
This event follows the 'Korea's Great Leap: Three Mega Projects National Briefing' held on June 29, marking the third such briefing after those for the southwestern and Chungcheong regions.
In his speech, President Lee stated, "Yeongnam, the cradle of Korea's industry, will be reborn as the birthplace of the nation's ultra-competitive advanced industries, propelling us toward becoming the world's leading manufacturing nation."
He emphasized, "The government and businesses will work together to establish Yeongnam as a solid center for next-generation advanced industries, ensuring that its success contributes to the growth of the entire nation," adding, "Yeongnam is the heart of Korea's industry."
President Lee expressed confidence that by integrating advanced technologies and industries such as physical AI and aerospace with Yeongnam's robust manufacturing base, Korea will lead the future global market.
He also outlined plans for significant investments in next-generation semiconductors and AI data centers, as well as the development of the country's largest robotics innovation belt, automotive sector, and world-leading shipbuilding industry, transforming manufacturing into an intelligent industry. He noted that bold and proactive investments would also be made in the aerospace and defense sectors, as well as energy, battery, and display industries, including small modular reactors (SMRs).
Notably, he highlighted that "aerospace will be a new growth industry for Korea nurtured by Yeongnam," and the government aims to establish a southern coastal aerospace industrial belt connecting satellites, launch vehicles, future aircraft, and new space industries.
He remarked, "While Yeongnam covers about one-third of the southern Korean Peninsula, I am confident that the economic territory we will open from Yeongnam will be as limitless as space."
President Lee reiterated his commitment to achieving balanced national development through this mega project, including the Yeongnam investment plan.
He stated, "The large-scale investment plan announced today aligns with the government's 'Five Polar and Three Special Growth Engine' strategy," promising to break the vicious cycle of concentration in the capital region and the decline of local areas, enabling each region to become a self-sustaining growth entity through a 'national spatial transformation.'"
To this end, he pledged to personally oversee the initiative and ensure that the central government implements bold package support encompassing taxation, finance, regulations, and infrastructure.
Meanwhile, Samsung plans to invest approximately 60 trillion won to establish AI manufacturing innovation hubs, including humanoid robots and AI data centers, as well as production lines for batteries and multilayer ceramic capacitors (MLCCs).
SK Group will invest 140 trillion won in phases to develop AI data centers with over 2 gigawatts (GW) of capacity, while Hyundai Motor Group will invest 42 trillion won to foster next-generation industries such as AI-based autonomous vehicles, future manufacturing, aerospace, and energy.
Hanwha will invest 55 trillion won in the aerospace sector, including the development of launch vehicle testing facilities. LG Group plans to invest 9.4 trillion won to enhance its HVAC research and development capabilities in response to the expansion of AI data centers and to strengthen production bases for next-generation displays and semiconductor substrates. LG and Doosan are also expected to announce specific investment plans soon.
Corporate leaders, including Samsung Electronics CEO Lee Tae-moon, SK Telecom President Jeong Jae-hun, Hyundai Motor Group Vice Chairman Jang Jae-hoon, and Hanwha Group Vice Chairman Kim Dong-kwan, attended the event to present the Yeongnam investment plans.
* This article has been translated by AI.
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