President Lee on "Southern Coast Aerospace Industry Belt"... Companies to Invest 312 Trillion Won in Yeongnam

Input: 2026-07-03 16:24:55

Updated: 2026-07-03 16:24:55

President Lee Jae-myung delivers a congratulatory speech at the National Briefing on the Vision for the Development of Advanced Industries in the Yeongnam Region held in Jinju, South Gyeongsang Province on the 3rd.

Cheong Wa Dae Press Photo Journalists Corps President Lee Jae-myung observes the national ceremony at the National Briefing on the Vision for the Development of Advanced Industries in the Yeongnam Region held in Jinju, South Gyeongsang Province on the 3rd. From left: Roh Tae-moon, President and CEO of Samsung Electronics; Kim Dong-kwan, Vice Chairman of Hanwha Group; President Lee Jae-myung; Jang Jae-hoon, Vice Chairman of Hyundai Motor Group; and Chung Jae-heon, President and CEO of SK Telecom.

Cheong Wa Dae Press Photojournalists [Financial News] President Lee Jae-myung stated on the 3rd, "The Yeongnam region will now take another step forward toward becoming the world's number one in manufacturing, surpassing its position as the top domestic manufacturer," adding, "In particular, aerospace will become a new growth engine for the Republic of Korea that the Yeongnam region will foster. " Attending the 'National Briefing on the Vision for the Development of Advanced Industries in the Yeongnam Region' held in Jinju, Gyeongsangnam-do on the same day, President Lee said, "Our government intends to fully establish a South Coast Aerospace Industry Belt connecting satellites, launch vehicles, future aircraft and space, and new industries," adding, "We will mobilize all government capabilities to actively support aerospace companies in the Yeongnam region, which will play a central role in this initiative, so that they can grow into top-tier global enterprises.

" President Lee said, "If we integrate advanced technologies and industries such as physical AI and aerospace onto the solid manufacturing foundation of the Yeongnam region, the Republic of Korea will be able to firmly lead the future global market," adding, "Semiconductors and robots, shipbuilding and automobiles, aerospace, petrochemicals and energy, etc. , [are related to] national economic security and the future.

" "Various high-tech industries responsible for job creation are densely concentrated within the Yeongnam region," he said. He continued, "A significant portion of our industry's core products—including 80% of domestic shipbuilding, 61% of aerospace, 58% of defense, and 44% of automobiles—are born here in Yeongnam.

Yeongnam is undeniably Korea's number one manufacturing hub and possesses great potential to leap forward as a global hub for high-tech manufacturing," emphasizing that "large-scale investments to foster high-tech industries will be added upon this solid foundation. " President Lee stated, "Along with large-scale investments in next-generation semiconductors and AI data centers, we will reshape manufacturing sites into intelligent industries by intensively fostering the physical AI sector, which includes the nation's largest robot industry innovation belt, automobiles, and the world's number one shipbuilding industry.

" He added, "Bold and active investments will also be made in the space, aerospace, and defense sectors, which hold the top domestic production share, as well as in energy, batteries, and displays, including Small Modular Reactors (SMRs). " In particular, he remarked, "The size of Yeongnam is the Korean Peninsula.

" "Although it is only about one-third of the South, I am confident that the size of the economic territory to be opened up in the Yeongnam region will be infinite, like the universe," he stated, adding, "The government promises to mobilize all national capabilities to respond to the bold move of companies that have decided on large-scale investments. " President Lee Jae-myung poses for a commemorative photo with attendees after the investment agreement signing ceremony at the National Briefing on the Vision for the Development of Advanced Industries in the Yeongnam Region held in Jinju, South Gyeongsang Province on the 3rd.

From left: Daegu Mayor Choo Kyung-ho, Busan Mayor Jeon Jae-soo, Doosan Energy Vice Chairman Jung Yeon-in, Samsung Electronics CEO Roh Tae-moon, Hanwha Group Vice Chairman Kim Dong-kwan, President Lee Jae-myung, Hyundai Motor Group Vice Chairman Jang Jae-hoon, SK Telecom CEO Chung Jae-heon, LG Innotek President Moon Hyuk-soo, Deputy Prime Minister and Minister of Finance and Economy Koo Yun-chul, and Deputy Prime Minister and Minister of Science and ICT Bae Kyung-hoon. Cheong Wa Dae News Agency Photojournalists On this day, major companies including Hanwha, Hyundai Motor, Samsung, and SK announced plans to invest a total of 312 trillion won in the Yeongnam region.

In particular, attention was drawn to the attendance of Hanwha Group Vice Chairman Kim Dong-kwan, Hyundai Motor Group Vice Chairman Jang Jae-hoon, Samsung Electronics CEO Roh Tae-moon, and SK Telecom President Chung Jae-heon, who personally announced future investment plans for the Yeongnam region. President Lee emphasized, "The large-scale investment plan announced today in the Yeongnam region, starting from the Southwest region and passing through the Chungcheong region, aligns with the government's '5 Pillars, 3 Specials' growth engine strategy.

We will do our utmost to break this massive vicious cycle of capital-centric concentration and regional decline, and we will certainly achieve a major spatial transformation of the national territory so that each region can cultivate its own industries and stand as the driving force of growth. " He added, "To this end, I, as the President, will personally oversee this project with meticulous care and stand at the special center of its implementation.

" Furthermore, he stated, "The central government will pursue a bold package of support that combines taxation, fiscal policy, finance, and regulatory infrastructure," adding, "We will also request that local governments expedite various permits and licenses to provide close support to businesses, and I trust that they will do so.

cjk@fnnews.com Choi Jong-geun Reporter

· This article has been translated by GripLabs Mingo AI.

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