It is reported that at a meeting in the presidential office, President Lee Jae Myung was briefed by Industry Minister Kim Jung-kwan on South Korea’s $475.8 billion semiconductor investment blueprint, which includes a shift toward developing AI processors and establishing a new semiconductor industrial corridor in the southern part of the country. This comprehensive plan involves constructing 10 new semiconductor fabrication plants (fabs) by 2047 with private sector investment, fast-track deregulation, and government support for water supply, while also earmarking substantial R&D funding, primarily for AI chips, to reduce reliance on imports and foster regional growth in cities like Gwangju, Busan, and Gumi.
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