"The Three Major Mega Projects Depend on Government Support"

"What matters now is the speed of execution and the quality of government support."
At the launch ceremony of the New K-Industry Forum held on the 9th at FKI Tower in Seoul, Ryu Jin, chairman of the Federation of Korean Industries, said, "Through the Three Major Mega Projects, bold investment in semiconductors, artificial intelligence (AI) data centers and physical AI, along with seamless infrastructure support, must be ensured." Earlier, at a public briefing on the Three Major Mega Projects held at Cheong Wa Dae on the 29th of last month, Samsung and SK Group announced plans to invest a combined 4,700 trillion won in semiconductor, AI infrastructure and physical AI projects nationwide, including an 800 trillion won semiconductor plant in Honam. As companies have presented nationwide investment plans on an unprecedented scale, the statement suggests that
the government should actively move to build supporting infrastructure, ease permitting and regulatory hurdles, and secure talent so that the investments can proceed smoothly.
The New K-Industry Forum is a public-private consultative body that plans to develop medium- to long-term roadmaps that will serve as a blueprint for the future of industry and provide advice on key policy issues. Representing the business community and the government, Ryu and former Minister of Trade, Industry and Energy Moon Seung-wook will serve as co-chairs.
Ryu said, "The New K-Industry is a project to fundamentally redesign and innovate our industries with a 30-year horizon in mind." He added, "Just as Samsung founder Lee Byung-chul announced the birth of a semiconductor powerhouse through the Tokyo Declaration of Feb. 8 in 1983, I hope our forum will become a cornerstone of a new era." He also stressed, "FKI will work closely with the government to bring together corporate capabilities."
Cho Eun-hyo, ehcho@fnnews.com