President Lee Jae-myung announced on November 12 that a new advanced packaging fab worth 6 trillion won will be established at Samsung Electronics' Onyang Campus, along with an additional investment of 40 trillion won in advanced equipment.
Speaking at the groundbreaking ceremony for the Chungcheong mega project held at the Onyang Campus in Asan, Lee stated, "We will become a core hub for advanced HBM packaging." The total investment for the new fab and subsequent equipment amounts to 46 trillion won.
The projects include the advanced packaging fab in Asan, a high-tech display production line, and a high-performance substrate manufacturing facility for AI servers in Sejong. Lee emphasized that the groundbreaking comes just four months after the government and businesses pledged their investment plans in July, stating, "We are standing at the site that turns that promise into reality."
He expressed gratitude to Samsung Electronics Chairman Lee Jae-yong and the company's employees for their bold investment decisions and swift execution, as well as to the residents of Chungcheong who collaborated to make the groundbreaking possible.
Regarding the preparation for subsequent investment projects, Lee noted, "This wave of innovation is rapidly spreading beyond Asan and Sejong throughout the Chungcheong region," adding that preparations for groundbreaking in Cheongju for a memory and advanced packaging fab, an AI data center in Dangjin, and a biopharmaceutical production facility in Osong are progressing smoothly.
He also highlighted the role of local governments in expediting investment execution, explaining that the provincial government of South Chungcheong and the city of Asan reduced the usual permitting time to one-third, allowing companies to accelerate their groundbreaking schedules.
Lee remarked, "This is a clear example of how quickly changes can occur when local governments take proactive steps," encouraging local government officials who listened to businesses' challenges and sought solutions through active administration.
He pledged support for investment plans not only in the Chungcheong region but also in Honam and Yeongnam, emphasizing that the central and local governments will work as a unified team to ensure the completion of various permits and the establishment of essential infrastructure such as power and water supply.
Lee made it clear that the benefits of investment should be shared with local residents, small and medium-sized enterprises, and small business owners. He stated that new growth opportunities should open for local SMEs and that young people should be able to find good jobs and settle down in Chungcheong without having to leave for distant places.
He concluded by stating, "The government will focus all its policy capabilities to ensure that the mega project does not just expand corporate production facilities to the regions but also brings about real changes in the lives of local communities and citizens, achieving 'growth for all' and 'true national balanced development.'"
Following the groundbreaking ceremony, President Lee will chair the fourth public-private joint inspection meeting for the mega project, where discussions will include comprehensive support measures for the Chungcheong region, ways to expand participation of small businesses, and cooperation plans between Samsung Electronics, SK Hynix, and local SMEs and mid-sized companies.
* This article has been translated by AI.
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