A large-scale investment project in advanced industries in the Chungcheong region has officially begun, marking a significant expansion of investment in the area. The government plans to rapidly promote large-scale investments by anchor companies while also spreading investments to materials, parts, and equipment (so-called 'soobu-jang') companies, aiming to develop the Chungcheong region as a hub for advanced industries and balanced national development.
On November 12, the Ministry of Trade held a 'Chungcheong Mega Project Groundbreaking Ceremony' at Samsung Electronics' Asan Onyang Campus, where it announced a comprehensive support plan for advanced industry investments in the region. The ministry noted that this event is significant as it follows the 'Chungcheong Advanced Industry Development Vision National Report Meeting' held on July 2, marking the transition from large-scale investment plans to actual construction.
On this day, projects from three companies—Samsung Electronics, Samsung Electro-Mechanics, and Samsung Display—were simultaneously launched. Samsung Electronics will invest 6 trillion won to build a new packaging facility dedicated to High Bandwidth Memory (HBM). This investment aims to enhance its production capacity for next-generation HBM and secure a competitive edge in the global HBM market, particularly in the era of artificial intelligence.
Samsung Electro-Mechanics plans to invest 8 trillion won to expand its production line for advanced semiconductor packaging substrates for GPUs and CPUs at the Sejong Myunghak Industrial Complex. This expansion is intended to meet the growing demand for high-performance semiconductor packaging substrates and strengthen competitiveness in the sector. Meanwhile, Samsung Display will invest 67 trillion won to expand its production line for 8.6-generation IT displays in the Cheonan-Asan area, aiming to establish the Chungcheong region as a key hub for the global advanced display industry.
The government is also focused on expanding the investment effects beyond anchor companies to their partner firms. According to the Ministry of Trade, following the announcement of the mega project, investment plans totaling approximately 23.6 trillion won have been identified from 112 materials, parts, and equipment companies associated with the anchor firms. By sector, AI and machinery account for the largest share at 11.9 trillion won, followed by bio at 5.9 trillion won, semiconductors at 2.4 trillion won, and secondary batteries at 2.2 trillion won. Regionally, investments exceed 11.9 trillion won in South Chungcheong, 5 trillion won in North Chungcheong, 4.7 trillion won in Daejeon, and 2 trillion won in Sejong.
The Ministry of Trade is also pushing to accelerate investments in 10 projects by eight anchor companies. It plans to complete the groundbreaking for six projects by the end of this year and support the timely commencement of two projects in 2027 and two more in 2028-2029. The ministry aims to expedite procedures that affect investment schedules, such as power system impact assessments, industrial complex plan changes, and safety impact assessments, while ensuring stable power and water supply.
For materials, parts, and equipment companies, the government will provide investment support comparable to that offered to anchor companies. This includes expedited processing of permits, subsidies, tax deductions, policy financing, and the expansion of special zones. The government plans to invest 1.9 trillion won by 2030 to establish 14 advanced industry infrastructure projects and support 487 billion won for 17 joint research and development projects between materials, parts, and equipment companies and anchor firms by 2028.
Additionally, the government will focus on workforce development and the advancement of industrial complexes. It aims to train 10,000 specialized and practical personnel in advanced industries annually to meet corporate demand in the Chungcheong region and plans to invest 15 trillion won by 2030 to upgrade existing industrial complexes to be youth-friendly and centered on advanced industries and AI transformation.
Kim Jeong-kwan, Minister of Trade, stated, "We will ensure that the Chungcheong Mega Project is implemented swiftly and that the investment activation of anchor and materials, parts, and equipment companies spreads to the overall growth of the Chungcheong regional economy, with support from both the central and local governments."
* This article has been translated by AI.
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