Chey Tae-won makes first visit to Gwangju site, urges executives to move fast on Honam semiconductor push

[Financial News] SK Group Chairman Chey Tae-won visited the planned site of a semiconductor-specialized complex in Jeonnam-Gwangju Integrated Special City on the 9th to inspect the location in person. He then instructed executives to “work closely with the central government and local authorities to build the semiconductor cluster in the southwestern region as swiftly as possible.”
Chey, who visited the site in person to set the cluster’s development in motion and help ensure the Honam semiconductor cluster is built on schedule, also told reporters, “We will build it as quickly as possible,” expressing his firm commitment to follow through on investment in advanced industries in the Honam region.
SK hynix said Chey personally inspected the Gwangju military airport site and the area around the ammunition depot, a key candidate site for redevelopment, with senior executives including SK hynix CEO Noh-Jung Kwak. He then listened to Jeonnam-Gwangju officials brief him on plans for the industrial complex and preparations for key infrastructure, including land, power, water and transportation, before giving executives the instructions outlined above.
After thoroughly inspecting the site, Chey told reporters, “Semiconductor demand is increasing faster than expected, so we need to hurry to expand production facilities.” He added, “We brought forward the overall construction schedule for the Yongin semiconductor cluster by 12 years, but even that is expected to be insufficient.”
He went on to say, “We may have to build factories in Yongin and Jeonnam-Gwangju at the same time,” adding, “This visit is to see firsthand how quickly we can build a factory in Jeonnam-Gwangju.”
Chey has repeatedly stressed the urgency of expanding production capacity at recent internal and external meetings, saying, “To lead the AI era, we need to at least double our memory semiconductor production capacity within the next five years.”
At the site that day, Chey also said, “Even if water and power are delayed, as long as we can get the timing right quickly, we’ll get started first. We’re not particularly focused on saving on construction costs.” On the size of the Honam semiconductor plant, he said, “We’re planning for it to be two-thirds the size of the one in Yongin, and we expect it could be larger if there is more land available here.”
Min Hyung-bae, mayor of Jeonnam-Gwangju, said, “Chey clearly demonstrated his commitment to moving forward with the semiconductor cluster.” He added, “We will firmly support SK hynix in building and operating a world-class semiconductor plant in optimal conditions, providing not only key infrastructure such as land, power and water, but also talent development and conditions that make it easy for people to settle here.”
Since unveiling a blueprint last June to create a new cluster worth 400 trillion won in the Honam region, SK hynix executives have visited the Gwangju site about 10 times and continued close consultations with local governments.
Chey’s site visit is expected to provide further momentum for the project. An SK hynix official said, “With strong support from the central government and local authorities, we will continue investing at a swift pace and contribute to strengthening South Korea’s dominance in AI semiconductors.”
[email protected] Kim Hak-jae Reporter