Kim Yongbum: "Second Semiconductor Cluster Discussions Nearing Completion... Announcement Soon"

"Relocation of Yongin Cluster to Other Regions Not Planned... Project Will Proceed as Is"

"Excess Tax Revenue Expected to Surpass Previous 25 Trillion Won Supplementary Budget"

Kim Yongbum, policy chief of the Presidential Office, stated regarding the policy to establish a second semiconductor cluster in the Honam and Chungcheong regions, "We are approaching the final stage of discussions. Once a decision is made, we plan to arrange an occasion where companies and ministries will jointly provide an explanation to the public."

Kim Yongbum, policy chief of the Presidential Office, is delivering the opening remarks at the Kwanhun Debate held at the Press Center in Jung-gu, Seoul on the 24th. 2026.6.24 Yonhap News

Attending the Kwanhun Debate held at the Press Center in Seoul on this day, Kim commented, "With the current explosive demand for semiconductors, we are now in a situation where the previously planned facility construction needs to be accelerated." He added, "Even if we try to build more in the Seoul metropolitan area, there is neither land nor water available. However, we cannot allow the core facilities to move overseas either."

He also reiterated that the plan involves creating a second cluster, not relocating the currently planned Yongin cluster. Kim emphasized, "It is absolutely not about abandoning the construction planned for Yongin and moving it to the provinces. We are building a new cluster." He went on to explain, "If we wait until everything in Yongin is completed before starting the next site, it will be too late; that's why the creation project needs to begin first."

Regarding excess semiconductor tax revenue, he projected that it would exceed the scale of the 25 trillion won supplementary budget implemented this year due to instability in the Middle East. Kim stated, "This year, we prepared a supplementary budget of 25 trillion won because of the Middle East conflict, but even greater excess tax revenues will come in within this year." He further expressed concerns, saying, "There is a fear that we may not be able to fully support semiconductor demand with our power supply," stressing the need to prepare for facility expansion.

This content was produced with the assistance of AI translation services.