President Lee to review AI investment initiative progress

• President Lee Jae Myung is pushing for the relocation of a military airbase in Gwangju by mid-2028.
• The relocation aims to speed up the construction of a semiconductor manufacturing hub.
• This initiative is part of a larger plan worth over $576 billion involving Samsung Electronics and SK Hynix.
• The chosen site for the chip cluster is 8.3 million square meters and was selected for its transport links and existing infrastructure.
• Lee presided over a meeting attended by company executives to discuss the planned chip cluster.

South Korean President Lee Jae Myung has urged the Defence Ministry to expedite the relocation of a military airbase in Gwangju city by mid-2028. This move is intended to accelerate the development of a significant semiconductor manufacturing hub in the region.

The push for the airbase relocation comes as part of a larger national strategy unveiled in June, involving investments exceeding $576 billion by major companies like Samsung Electronics and SK Hynix to expand their chip fabrication facilities in the country's southwest. President Lee emphasized the importance of this timeline at a meeting with company executives focused on the planned chip cluster.

The chosen site for the semiconductor hub spans 8.3 million square meters and was reportedly selected last month due to its favorable transport connections and the fact that the land has already been leveled, according to Yonhap News Agency citing a presidential official.