622 trillion won to build a semiconductor mega cluster in southern Gyeonggi Province
With a rosy outlook of 650 trillion won in production and 3.46 million jobs created,
Governor of Gyeonggi Province, “I misled the people and fake people’s livelihood with the same amount of money”
At the third ‘People’s Livelihood Debate’ held this week at the Sungkyunkwan University Natural Science Campus in Jangan-gu, Suwon, the government announced that it would create a semiconductor mega cluster in southern Gyeonggi Province through private investment of 622 trillion won by 2047. Samsung Electronics (KRW 500 trillion) and SK Hynix (KRW 122 trillion) have established 13 new semiconductor factories and 3 research facilities in this area, making it the world’s largest and largest research facility with a total of 37 semiconductor factories and research facilities. It is a rosy plan to create a ‘state-of-the-art system semiconductor hub’. The government expects to stimulate production of 650 trillion won and create direct and indirect employment for a total of 3.46 million people, but the opposition party’s criticism that it is “misleading the public with a wasted amount of money” and “a fake policy for the general election” is also growing stronger.
The reason that the government, together with the private sector, has decided to create a semiconductor mega cluster with an area of 21.02 million m2 in southern Gyeonggi Province by 2047, which is 7.2 times the size of Yeouido, is likely because the competition to secure global leadership in the semiconductor industry is intensifying into a ‘cluster competition between nations.’ Japan is developing Kumamoto Prefecture into a semiconductor industry reconstruction cluster. In particular, Kashima Construction, a leading Japanese construction company, has introduced a ’24-hour, 3-shift’ construction system and is about to start production at the end of this year. Taiwan has begun a project to create a ‘Greater Silicon Valley’ by linking the TSMC Hsinchu Science Complex and its surrounding areas. The United States is promoting clusterization across the country from Arizona (Intel) to New York (Micron), including providing $39 billion in subsidies through the Semiconductor Support Act (aka Chips Act).
Meanwhile, last year, Samsung Electronics was hit hard by a recession in the memory market, losing its position as the leader in semiconductor sales to rival Intel in two years. On the other hand, Taiwan’s TSMC, the world’s largest semiconductor foundry (consignment manufacturing) company, successfully defended its performance in the fourth quarter of last year and completed preparations to dominate the foundry field. This may be the reason why the government reaffirmed its strong will to foster semiconductors. President Yoon Seok-yeol said on the 15th, “Advanced countries are currently waging a very fierce war to build semiconductor mega clusters,” and added, “In order for us to become the first mover in the scientific and technological revolution centered on semiconductors, we must use all of the nation’s human, material, and strategic assets.” He emphasized, “We must engage in a fierce battle of speed.”
President Yoon said, “Establishing a semiconductor factory will create an ecosystem for planning, design, post-processing, research and development, and lead to infrastructure construction and joint investment with partner companies, creating millions of jobs.” “The warmth spreads,” he said. At the same time, he added, “There are stories like ‘giving money to large corporations,’ but this is really nonsense.” This appears to be a remark with a ‘trickle-down effect’ in mind, such as increased sales and jobs for suppliers of materials, parts, and equipment.
Then, on the 18th, Gyeonggi Governor Kim Dong-yeon said through a live broadcast on social networking service (SNS), “The investment of 622 trillion won is until 2047. He pointed out, “It includes talk about 23 to 24 years from now, and it includes all investments made during the previous administration, including Samsung’s 300 trillion won for Yongin Namsa announced last year.” He continued, “Through the so-called People’s Livelihood Debate, he announced a tax cut plan that affects only a few large corporations, eased reconstruction, and excluded unsold houses in non-metropolitan areas from the number of houses owned when purchasing them, raising suspicions that he may be influencing the general election as a political move. “President Yoon is receiving it,” he criticized, adding, “I wish he would come to Gyeonggi-do on a regular basis, not just during elections, and talk about real people’s livelihoods, not fake people’s livelihoods, not just rehashing the people’s livelihoods, and suggest solutions.”
2024-01-20 06:16:45
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