President Lee Jae Myung on July 3 gives a congratulatory speech at a public briefing in Jinju, Gyeongsangnam-do Province, on his administration's vision for the high-tech industrial development of the southeastern region of Yeongnam. (Cheong Wa Dae)

By Aisylu Akhmetzianova

Six domestic conglomerates have collectively pledged KRW 312 trillion in investment in the Yeongnam region, which spans Busan, Daegu, Ulsan, and the provinces of Gyeongsangbuk-do and Gyeongsangnam-do, to advance cutting-edge industries like physical artificial intelligence (AI) and space.

The Ministry of Finance and Economy on July 3 announced this in a public briefing in Jinju, Gyeongsangnam-do Province, on the Lee administration's vision for the development of high-tech industries in the region.

The briefing, the third of its kind following those in the Honam (Gwangju and the two Jeolla-do provinces) and Chungcheong regions (Daejeon, Sejong and the two Chungcheong-do provinces), was attended by some 200 people including President Lee Jae Myung, figures from leading investment companies, and leading officials from the central and local governments.

Hanwha Group will invest KRW 55 trillion in satellites, launch vehicles and the construction of AI data centers for space and the defense industry. Hyundai Motor Group will spend KRW 42 trillion on self-driving mobility based on AI, manufacturing clusters for future core components, manufacturing AI and future aerospace technologies.

Samsung Group announced investment of KRW 60 trillion in ventures like the setup of production lines for humanoid robots and SK Group KRW 140 trillion to build a two gigawatt-class AI data center in Yeongnam.

Doosan Group will spend KRW 5.1 trillion on small modular reactors and LG Group KRW 9.4 trillion on package substrates.

In addition, a government plan eyes the development of Yeongnam into a leading hub for cutting-edge industries through ventures like setting up an innovation hub for next-generation semiconductors, materials and components, building a two-GW AI data center and forming a state-of-the-art belt for robotics innovation.

Other initiatives include construction of a space hub centered on Sacheon, Gyeongsangnam-do Province, where the Korea AeroSpace Administration is based, and support for the space industry focused on developing a related industrial belt along the southern coast.

aisylu@korea.kr