Industry ministry to focus on expediting megaproject initiative in H2

The Ministry of Trade, Industry and Energy has announced its focus on expediting administrative procedures for the government's megaproject initiative to build a new semiconductor cluster in South Korea during the second half of the year. The three megaprojects in semiconductors, physical AI, and AI data centers are aimed at large-scale investments in regional areas, with Samsung Electronics Co. and SK hynix Inc. pledging trillions of won for the semiconductor hub.

The ministry plans to complete the selection of the project developer and candidate sites for the industrial complex in the southwestern region by the end of this year, followed by securing power and water supplies and completing necessary permitting procedures. The ministry also plans to expedite administrative procedures to support the completion of the semiconductor cluster project in Yongin, located just south of Seoul, by 2029.

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