President Lee Jae Myung said the newly announced semiconductor cluster project in the country’s southwestern region would bring great investment in Jeolla Province, but the amount is insignificant compared to decades of accumulated investment elsewhere.
Lee made the remarks during a Cabinet meeting at the presidential office on Tuesday, acknowledging concerns over regional favoritism but calling for public understanding.
The president said semiconductors and other advanced industries require electricity, water, and land, and the Seoul metropolitan area has reached its limits in power and water supply, concluding that Jeolla Province was chosen for its available space and resources.
He described the government’s three mega investment projects as a key initiative to reduce the concentration of development in the capital region and promote more balanced growth across the country.
Lee also thanked companies for choosing to invest in South Korea rather than overseas and pledged proactive and full government support to ensure their investments proceed smoothly.
He called on all parties to cooperate with the government’s efforts, saying bipartisan support was essential to strengthening the country’s future competitiveness.
