(2nd LD) Gov't to enact special law this year to designate special zone for AI investment projects
SEOUL, Aug. 10 (Yonhap) -- The government plans to enact a special law this year...
The South Korean government intends to introduce a special law this year to create designated zones for artificial intelligence (AI) investment projects, according to a presidential chief of staff. At a press conference following a meeting with President Lee Jae Myung, Kang Hoon-sik announced this plan, highlighting the government's efforts to expedite the implementation of three megaprojects in areas such as semiconductor production, physical AI, and AI data centers.
The Lee administration unveiled the three megaprojects in late June, with Samsung Electronics Co. and SK hynix Inc. pledging a combined investment of 800 trillion won in the semiconductor cluster project, which primarily benefits Gwangju and the Honam region. Additionally, significant investments are planned in Chungcheong Province and the southeastern Yeongnam region.
The special law aims to simplify licensing, approval procedures, and environmental assessments, as well as establish infrastructure for energy, water, and worker amenities. President Lee emphasized the need for rapid implementation and stressed that regulations should be improved to ensure a swift transformation of regional airports, like the one in Gwangju, into semiconductor production hubs.
The ultimate objective is to spread growth opportunities nationwide, transforming regional areas into centers for future industries.
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