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Lee pushes faster chip investment as Gwangju site emerges for Honam cluster

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·President Lee Jae Myung on Monday ordered the government to accelerate semiconductor and artificial intelligence investment plans, calling for administrative procedures to be streamlined and carried out in parallel as Seoul races to secure a competitive edge in future industries.
·In line with Lee's call to accelerate the government's so-called three mega projects, Cheong Wa Dae announced that the Gwangju military airport site is the preferred location for a planned semiconductor manufacturing cluster in the southwestern region — a key pillar of the three projects.
·Samsung Electronics and SK hynix have pledged to invest a combined 800 trillion won ($522.5 billion) in the cluster.
·In the morning, Lee presided over a public-private review meeting at Cheong Wa Dae with senior government officials and executives from the country's top chipmakers, Samsung Electronics and SK hynix, to discuss follow-up measures for the three projects.
·Announced last week, the initiative aims to spur long-term growth through large-scale investments in semiconductors, physical artificial intelligence and AI data centers, as the government seeks to position South Korea at the forefront of next-generation industries.