Overview
- President Lee chaired a public–private review and ordered the temporary transfer of Gwangju Air Base functions by mid-2028 to free the site for a semiconductor and AI industrial complex, a directive the Defense Ministry said it will actively pursue and discuss with U.S. Forces Korea.
- The government announced about 5 trillion won for a new semiconductor fund for materials, parts and fabless firms plus roughly 5 trillion won in trade finance to support suppliers and small partners in the supply chain.
- Officials said they will push a special law this year to create megaproject zones that speed permitting, environmental reviews and infrastructure build-out and will seek passage of a Mega Special Zone Act in Parliament within the year.
- Samsung Electronics and SK hynix have pledged a combined investment near 800 trillion won for the Gwangju/Honam cluster, and the government committed to secure large utility supplies including 650,000 tonnes of water per day for Gwangju by 2030 and planned power allocations for other clusters.
- Key near-term steps and risks include consultations with the U.S. military, local approvals and referenda, parliamentary clearance of special-zone legislation, and timely delivery of power, water and housing that will determine whether aggressive construction targets can be met.