The South Korean government and ruling party pledge to increase support for chip cluster and AI investment projects.

According to Golden Ten Data on July 13, citing Yonhap News Agency, South Korea's ruling Democratic Party together with the government agreed on Monday to increase support for the recently announced large-scale chip cluster and artificial intelligence investment projects, pledging to swiftly push related legislation. At the end of last month, the South Korean government unveiled the "Three Major Super Projects" plan, aimed at transforming the nation through investments in semiconductors, physical artificial intelligence, and artificial intelligence data centers, with a total required investment of 475.5 trillion won (approximately $3.16 trillion). According to the plan, Samsung Electronics is expected to build two memory chip manufacturing plants in Gwangju and the surrounding Jeolla region, while SK Hynix will construct two additional wafer fabrication plants. Acting Democratic Party leader Han Byung-do stated: "Given that the ruling party has established a special committee dedicated to supporting the Three Major Super Projects, we will actively provide legislative and budgetary support." Han Byung-do added that the Democratic Party will seek to pass a special law on "super special zones" to ease regulations and better support the plan by the end of the year.