South Korea's Chungcheong Advanced Industry Cultivation Plan: Companies to Invest 392 Trillion Won

(Central News Agency, Reporter Yang Qifang, Seoul, July 2nd) South Korea today announced the "Chungcheong Next-Generation Advanced Industry Cultivation Strategy," with companies such as Samsung and SK Hynix planning to invest approximately 392 trillion won in the Chungcheong region. President Lee Jae-myung stated that Chungcheong possesses unlimited growth potential and will become a global hub leading the AI era.

According to Yonhap News Agency, the South Korean government announced the "Chungcheong Next-Generation Advanced Industry Cultivation Strategy" today at the "Chungcheong Advanced Industry Development Vision National Report Session" held in Asan City, South Chungcheong Province. A comprehensive policy package will be launched to support large-scale corporate investments.

Companies including Samsung Electronics, SK Hynix, and Celltrion will invest approximately 392 trillion won (approximately 8 trillion New Taiwan dollars) in the Chungcheong region, focusing on areas such as semiconductors, displays, secondary batteries and components, and biotechnology. These companies announced their Chungcheong investment plan today, following their announcement of an investment plan for the southwestern region on June 30th.

At the national report session, South Korean President Lee Jae-myung stated, "Chungcheong possesses unlimited growth potential. With the strategic investment of companies and the firm will of the government, Chungcheong will not only become the center of South Korea's advanced industries but will also emerge as a global innovation hub leading the AI era."

Lee Jae-myung pointed out that Chungcheong carries the dreams and hopes of balanced national development, breaking the phenomenon of excessive concentration in the Seoul metropolitan area. "A major transformation to reopen the growth space for the entire nation begins from Chungcheong." Lee Jae-myung emphasized that the government will not miss this significant opportunity to merge balanced development hubs with advanced industry hubs and will utilize all available means to actively support businesses.

Lee Jae-myung also expressed gratitude and encouragement to the companies, stating, "Samsung, SK Hynix, and Celltrion have announced large-scale investment plans to cultivate advanced industries in the Chungcheong region. On behalf of the citizens, I thank you for making such decisive decisions." (Editor: Zhang Zhixuan) 1150702

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