[Financial News] President Lee Jae Myung stressed on the 12th, regarding mega-project investments, “What matters now is not words but action. Execution, not promises, is what matters.” He said that 112 companies in the Chungcheong region are set to make additional investments totaling 23.6 trillion won, on top of the 392 trillion won in investment originally planned, and called for support to ensure that large corporations’ investments lead to growth for local small and medium-sized enterprises and startups. President Lee said at the fourth joint public-private review meeting on mega-projects, held that day at the construction site of Samsung Electronics’ Onyang Campus, “Since announcing the three mega-projects last July, this is the first time we have held a review meeting at a site where a project is breaking ground, and this is our fourth meeting.” He added, “With investment companies from the Chungcheong region, their partner companies, and local government officials here today, I think we’ll be able to hear firsthand perspectives from the field.” This was the first time a mega-project review meeting had been held on site. President Lee said, “In the Chungcheong region, six of the eight companies making investments have begun investing in earnest, and projects in the Honam and Yeongnam regions are also now progressing one by one.” He added, “What is even more encouraging is that, as mega-project investments begin to be implemented, companies in the materials, parts, and equipment sectors connected to anchor companies are making additional investments.” He continued, “For example, here in the Chungcheong region, in addition to the 392 trillion won in investment originally planned, 112 companies in fields such as semiconductors and biotech are set to make additional investments totaling 23.6 trillion won.” He assessed, “Mega-projects are not stopping at investment by large corporations; they are also sparking technological innovation and investment among small and medium-sized enterprises and mid-sized partner companies, with the effects spreading across the broader industrial and regional ecosystems. I think this is a very positive sign.” He also stressed the role of local governments in speeding up investment. President Lee said, “The role of local government leaders who are close to the sites is extremely important if we are to speed up investment.” He added, “I understand that South Chungcheong Province appointed dedicated officials for each investment project, shortened permitting procedures, and improved regulations, making a major contribution to bringing forward the start of construction.” He urged them, “I hope you will share these exemplary practices with other local governments and help apply them at investment sites in other regions as well.” He also called for conditions that would help workers and their families settle in the region. President Lee said, “The significance of local investment is magnified when workers and their families settle in the region, so I hope local governments will make a special effort to provide the living conditions essential for settling there, including housing, transportation, and culture.” He added, “The central government will also do what it can to provide support.” He also stressed the need for policy support to spread the benefits of investment to local small and medium-sized enterprises and startups. President Lee said, “For mega-projects to become a catalyst for truly balanced national growth, it is important that investment by large corporations lead to growth opportunities for local small and medium-sized enterprises and startups.” He added, “I hope you will explore a range of policy support measures to help capable local small and medium-sized enterprises newly enter the supply chains created by new investments.” He continued, “I hope you will explore measures such as providing the funding partner small and medium-sized enterprises need to grow through new business, as well as support to upgrade their manufacturing capabilities.” He added, “We also need to expand opportunities for demonstration and commercialization in the startup sector. I hope the relevant ministries will join forces.” President Lee said, “I understand that Samsung and SK Group are also scheduled to announce plans today to promote mutually beneficial growth with local small and medium-sized partner companies.” He added, “The government will actively lend its support to ensure companies’ efforts produce tangible results on the ground.” [email protected] Choi Jong-geun Reporter