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President Lee Jae-myung delivers a congratulatory speech at the National Report on the Vision for the Development of High-Tech Industries in the Chungcheong Region, held in Asan, South Korea, on July 2. / Yonhap News

President Lee Jae-myung visited Asan, Chungcheongnam-do, on July 2 to attend a 392 trillion won corporate investment presentation. During the event, he refuted allegations of "arm-twisting corporations" and "regional discrimination" raised by some quarters regarding the "Three Mega Projects," including the southwestern semiconductor cluster.

In particular, President Lee dismissed the speculation, stating, "Some people hold the obsolete mindset that Samsung Electronics made this decision because I pressured Chairman Lee Jae-yong. If things worked that way, could companies manage their businesses and attract world-class investments? It is impossible."

Attending the "National Report on the Vision for the Development of High-Tech Industries in the Chungcheong Region" held in Asan, Chungcheongnam-do, President Lee added, "Thinking that one can force things by applying pressure—a notion from the era of government-controlled economies—is an obsolete mindset in itself."

He repeatedly emphasized, "Our thinking must change. A new world is unfolding. To run at the forefront of this completely new world, we must adopt advanced mindsets."

The event was attended by Samsung Electronics Chairman Lee Jae-yong, SK Hynix CEO Kwak Noh-jung, and Celltrion Chairman Seo Jung-jin, among others. Samsung Electronics and these firms pledged a total of 392 trillion won in regional investments at the venue, including 156 trillion won for semiconductors, 150 trillion won for artificial intelligence (AI) data centers, and 67 trillion won for displays.

President Lee also addressed criticisms regarding the alleged neglect of other regions, which had been raised in connection with the Honam region semiconductor cluster.

"Before delivering my formal congratulatory remarks, I would like to address what seems to be a misunderstanding," President Lee said. "When an investment in a certain region amounts to several hundred billion won, people marvel at it. But when it is 2 trillion won, there is a sense of 'Is that all?' Because the scale has reached tens or hundreds of trillions of won, people seem to have lost their sense of perspective."

He continued, "As each region implements local autonomy, local government heads sometimes seem to face stress when residents point out that nothing is happening in their neighborhoods. Even so, we must not approach this issue divisionally."

President Lee emphasized, "This is an inevitable choice for sustainable and inclusive growth so that the nation can survive. From a corporate perspective, they must aggregate investments in highly efficient regions using highly efficient methods. This is not a gift."

He reiterated, "If we place one here, one there, one semiconductor plant in Gwangju out of pity, one here because it's wanted, and another there, corporations cannot operate. We must not approach this by asking why it isn't being distributed."

President Lee also extended words of encouragement to the corporations that decided on the massive investments.

Notably, President Lee said, "Listening to the remarks of Samsung Electronics Chairman Lee Jae-yong earlier, I was reminded of the historic moment in 1983 when the late Chairman Lee Byung-chull declared Samsung's entry into the semiconductor industry in Tokyo. Just as that day's foresight transformed South Korea into a semiconductor powerhouse, I am confident that Chairman Lee Jae-yong's resolve will lead a new leap forward for South Korea's high-tech industries."

He added, "With these massive new corporate investments serving as a momentum—particularly the HBM production driven by Samsung's decision—Chungcheong's status as a high-tech industry hub will be further strengthened."

Furthermore, President Lee commended the business leaders, stating, "We have entrepreneurs like Celltrion Chairman Seo Jung-jin who have relentlessly blazed new trails in high-tech industries. The investment plans announced today do not merely mean the expansion of corporate production facilities into the Chungcheong region. They represent a promise of trust to completely shift our growth paradigm toward a better future, and a bold declaration toward South Korea's potential."

President Lee pledged, "Business leaders who turn crises into opportunities through endless challenges, universities and research institutions that serve as the bedrock for future talent and core technologies, and local governments responsible for innovation infrastructure and living conditions will form 'One Team' to redraw South Korea's growth map. Through your dedication and efforts, we will achieve a great leap forward to become a super-gap industrial powerhouse and an irreplaceable South Korea."

                                                                                                           Hong Sun-mi