The money will flow into semiconductor factories, data centers, and AI robotics, among other areas. Due to the boom in AI data centers, memory chips are in short supply worldwide, prompting the government to double the production rate of South Korean chip plants in the coming years.
The two tech giants Samsung and SK Hynix alone are shouldering the equivalent of €455 billion of the total package, explained Economy Minister Kim Jung-kwan. New production facilities are planned in the city of Gwangju and in South Jeolla Province, where ample energy is available. The goal is also to distribute economic power more evenly across the country rather than concentrating it in Seoul.
Industry experts warn, however, of a shortage of electricity, water, and skilled workers in South Jeolla that could delay expansion. The opposition accuses Lee of political motives, which he denied. The government aims to complete construction by 2030, during Lee’s term; a specific start date has not yet been set.
Source: Tagesschau
