President Lee to Review Semiconductor Cluster Progress at Blue House on July 6

President Lee to assess semiconductor cluster progress at Blue House on July 6

President Lee Jae-myung will personally review the progress of the southwestern semiconductor cluster at the Blue House on July 6.

Kang Yoo-jung, the chief spokesperson for the Blue House, announced on July 3 that a public-private joint inspection meeting for the semiconductor cluster, part of South Korea's three major mega projects, will be held at the Blue House on July 6.

This meeting comes just a week after the details of the mega projects were announced on June 29, marking the first opportunity to assess the strategy. President Lee will closely examine the specific progress made.

At a national report meeting on advanced industrial development in the Yeongnam region held in Jinju, Gyeongnam, President Lee had previously promised, "As President, I will pay careful attention and monitor the situation closely."

Attendees at the meeting will include Kang Hoon-sik, chief of staff to the President, and Kim Yong-beom, head of the policy office from the Blue House, as well as government officials such as Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol, Minister of Trade, Industry and Energy Kim Jeong-kwan, and Minister of Land, Infrastructure and Transport Kim Yoon-deok. Local government representatives will include Min Hyung-bae, the mayor of Gwangju, Jeonnam, along with executives from Samsung Electronics and SK Hynix.

Seoul reduces public contribution rates to boost private development in 11 districts

Seoul City will lower the public contribution rate to half in 11 districts, including the relatively underdeveloped northern regions, to stimulate private development.

On July 3, the city announced the introduction of a tailored incentive system called 'Win-Win Development Pre-Negotiation+' for areas lacking development conditions.

The targeted districts are those with land prices below 60% of the average official land price in Seoul, including Gangseo, Gangbuk, Guro, Geumcheon, Dobong, Seodaemun, Seongbuk, Eunpyeong, Jungnang, Nowon, and Dongdaemun.

The city plans to implement a customized negotiation system that reflects local characteristics instead of a uniform negotiation standard. The public contribution rate will be eased from the existing 60% to 30%, and the residential ratio will be determined through negotiations based on location characteristics, development conditions, and public interest.

The aim is to reduce the burden of public contributions and flexibly apply the residential ratio to encourage private investment. This initiative is the first implementation of a key pledge from the 9th civil election to provide strong incentives for improving housing in northern Seoul.

Prime Minister Han vows to turn 'unrealistic' mega projects into reality

Prime Minister Han Seung-soo emphasized that the government will make the regional investment initiative known as the 'three mega projects' a reality.

Speaking at a Democratic Party workshop held at the Dragon City Hotel in Seoul, Han stated, "The three mega projects are the foundation for South Korea's future growth and represent a grand blueprint."

He acknowledged that many considered the figures associated with the projects to be unrealistic, but asserted, "This government under President Lee Jae-myung will turn the unrealistic into reality."

Han described the current moment as a critical juncture for achieving balanced national development, stressing the importance of close communication and cooperation among the ruling party, government, and the Blue House, as well as the National Assembly, for the successful implementation of these initiatives.

He added, "The most important virtue is speed," and expressed hope that the National Assembly would complete the necessary legislation by the end of the year, as promised by floor leader Han Byung-do.

New 3,600-ton submarine named 'Seohui' to be launched in second half of the year

The Navy's new 3,600-ton submarine, part of the Changbogo-III Batch-II class, has been named 'Seohui' after the diplomat from the Goryeo Dynasty.

On July 3, the Navy held a naming committee meeting at the Navy Headquarters and officially designated the submarine as 'Seohui.'

The Navy explained that the name was chosen to honor Seohui's military and diplomatic achievements, which included persuading the enemy to withdraw during the Khitan invasion and securing the six provinces of Gangdong.

The Navy uses the names of figures who contributed to military strength, maritime power, resistance against foreign forces, and independence movements for its submarines.

The Seohui submarine, at 3,600 tons, is larger than the existing 3,000-ton Dosan Ahn Chang-ho class submarines. It features enhanced target detection and processing capabilities, and the number of vertical launch systems for submarine-launched ballistic missiles (SLBMs) has increased from six to ten.

The Seohui is expected to be delivered to the Navy in 2028, with its launch ceremony anticipated in the second half of this year.

* This article has been translated by AI.