392 Trillion Won Projects for Chungcheong Region: Samsung and SK hynix Invest 240 Trillion, Celltrion 2 Trillion Won

Chungcheong Region Advanced Industry Development Vision National Briefing

Support for 'Investment Support Booster'... Mega-Special Zone Designation to Offer Top-Level Regulatory Exemptions

Comprehensive Investment Support Plan for Chungcheong Region to Be Prepared Within 100 Days

Samsung, SK hynix, and Celltrion have announced plans to carry out projects worth 392 trillion won in the semiconductor, display, and bio sectors in the Chungcheong region. The government intends to promote these investments by designating a 'mega-special zone' that will ease numerous complex regulations required by these companies.

On July 2, President Lee Jaemyung held the 'Chungcheong Region Advanced Industry Development Vision National Briefing' at Samsung Display Asan Campus 2, with major Chungcheong region investment companies such as Samsung, SK hynix, and Celltrion participating. This event was organized to announce regional investment plans for the three major mega-projects previously outlined by the government and marks the second such event after the one held in the Southwest region (Gwangju and Jeonnam) on June 30.

At the event, Samsung, SK hynix, and Celltrion announced their advanced industry investment plans for the Chungcheong region. First, Samsung Display will establish OLED and next-generation display lines in the region. Samsung Electronics will invest in high-bandwidth memory (HBM) fabs and packaging, Samsung Electro-Mechanics will invest in high-performance AI server package substrates, and Samsung SDI will invest in new advanced battery manufacturing method mother lines, among others. The total investment by Samsung in the Chungcheong region is expected to be about 140 trillion won.

SK hynix plans to invest approximately 100 trillion won in NAND and advanced packaging fabs, while Celltrion is pursuing an investment of about 2 trillion won in biopharmaceutical production facilities. In addition, other companies are planning investments of about 150 trillion won (Chungcheong plus additional regions) in AI data centers, bringing the total investment in the Chungcheong region to 392 trillion won.

The government will support the smooth implementation of these large-scale corporate investment plans through its 'Chungcheong Region Next-Generation Advanced Industry Development Strategy.' This includes fiscal and financial support, regulatory easing, as well as support for building the local industrial ecosystem. To promote large-scale local investments, the government will offer strong investment incentives through the 'Investment Support Booster' program. Specifically, it will introduce the 'Growth Engine Special Subsidy' to provide subsidies for large-scale local facility investments, and offer large-scale investment funds such as the National Growth Fund and Regional Growth Fund to investing companies. The government will also support technological innovation through large-scale research and development (R&D) projects centered on anchor companies. To attract top talent, tax incentives will be provided for companies and workers based in the region, and the government will support the establishment of 'Growth Engine Brand Colleges' and convergence research institutes at major national universities to intensively foster talent in growth engine fields. In particular, the government plans to designate and operate a 'mega-special zone' to significantly relax a wide range of complex regulations needed by investing companies.

Additionally, the government will build a regional industrial ecosystem and promote university-industry-institute innovation centered on investing companies. In the display sector, the government will establish Advanced Display Research Institutes and Next-Generation Display Demonstration Centers to support innovation activities throughout the entire cycle from R&D to demonstration and mass production. In the semiconductor sector, the government will focus on supporting advanced packaging R&D and establishing a Semiconductor Gas Performance and Safety Evaluation Support Center. For the secondary battery and components sector, it will create a big data-based process advancement demonstration center and an EV battery fire safety evaluation center. In the bio sector, the government will establish a public bio-foundry and public contract manufacturing facilities incorporating AI.

To ensure rapid investments, the 'Chungcheong Region Advanced Strategic Industry Great Leap Forward Task Force (TF)' will also be launched. This cross-ministerial support organization, involving the central government, local governments, and private investment companies, will be activated immediately to develop a 'Chungcheong Region Comprehensive Investment Support Plan' within 100 days, and will swiftly resolve issues related to site selection, permits, power supply, water, human resources, and finance for companies.

At the event, the participating companies and both central and local governments signed the 'Chungcheong Region Next-Generation Advanced Industry Investment Agreement.' Through this, the Ministry of Trade, Industry and Energy will support the creation of an industrial ecosystem and the implementation of investments for the development of next-generation advanced industries in the Chungcheong region. The Ministry of Economy and Finance will support economic policy coordination, and the Ministry of Education will promote tailored talent development. Chungnam Province, Chungbuk Province, Sejong City, and Daejeon City will be responsible for permitting, subsidy payments, and policy support.

Kim Jeonggwan, Minister of Trade, Industry and Energy, stated, "Chungcheong is a region where people, technology, and industry converge, and the growth of advanced industries in Chungcheong will shape the future of Korea's industry. The central government will work closely with local governments to ensure that the investment plans announced today bear fruit as the outcome of an 'irreplaceable Republic of Korea.'"

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