Anchor: The government has unveiled plans to create the world's biggest system semiconductor cluster near Seoul and establish new industrial complexes in 14 other regions. To foster high-tech industries, President Yoon Suk Yeol has vowed to actively support private investment.
Our Bae Joo-yon has more.

Report: The Seoul metropolitan area is the prospective home of the world’s largest cluster for system semiconductors as the government seeks to gain an upper hand in cutting-edge industries.

Chairing an emergency meeting on people’s livelihoods on Wednesday, President Yoon Suk Yeol stressed that such industries are the nation's key growth engine and strategic security asset that are directly linked to jobs and livelihoods.

To this end, Yoon said the government will induce the private sector to invest 550 trillion won, around 420 billion U.S. dollars, by 2026 in six key high-tech industries including semiconductors, displays, future cars and robots.

The government hopes to funnel private investments worth 300 trillion won to build the world’s largest semiconductor cluster near the capital city. The envisioned cluster is likely to be created in Yongin, Gyeonggi Province and will house five system semiconductor factories as well as up to 150 firms in the materials, parts and equipment industries.

The cluster will be further expanded through links to existing memory chip plants and design centers in nearby districts such as Giheung and Pangyo.

The president also promised to establish 14 new industrial complexes in regions beyond the capital, including Daejeon, Daegu, Gwangju and Gangwon, to foster the space, future vehicles and hydrogen industries in a bid to spur balanced regional development.

Stressing that speed is key, Yoon called on the National Assembly to swiftly pass a bill expanding tax credits for investments toward cutting-edge industries.
Bae Joo-yon, KBS World Radio News.