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2026-07-13 10:45:48
[South Korea's ruling party and government agree to fully support 4755 trillion won chip and AI projects, and plan to pass a special law by the end of the year] (1) According to Yonhap News Agency, South Korea's ruling Democratic Party and the government reached an agreement on Monday to increase support for the government's recently announced large-scale chip cluster and artificial intelligence investment projects, and promised to quickly promote relevant legislation. (2) The South Korean government announced the "Three Super Projects" plan at the end of last month, which envisions promoting national transformation with semiconductors, physical artificial intelligence and AI data centers, with a total investment of 4755 trillion won (approximately US$3.16 trillion). (3) The plan proposes that Samsung Electronics build two memory chip manufacturing plants in Gwangju and the surrounding Jeolla Province, and SK Hynix build two other wafer fabs. (4) Han Byung-do, acting leader of the Democratic Party, said that the ruling party has established a special committee to support the three super projects and will actively provide legislative and budgetary support. (5) Han Byung-do added that the Democratic Party will strive to pass a special law on "super special zones" by the end of the year to relax regulations and better support the implementation of the plan.
