On July 3, South Korea’s deputy prime minister and finance minister said the government will push major firms to invest over 312 tln won (~$204bn) in the southeast (Yeongnam) region to develop advanced manufacturing and AI. SK Group, Samsung, Hanwha and Hyundai Motor plan roughly 140 tln, 60 tln, 55 tln and 42 tln won respectively, targeting semiconductors, AI and aerospace; LG and Doosan are also expected to follow. The announcement includes a national space strategy centred on Sacheon to build

On July 3, South Korea’s deputy prime minister and finance minister said the government will push major firms to invest over 312 tln won (~$204bn) in the southeast (Yeongnam) region to develop advanced manufacturing and AI. SK Group, Samsung, Hanwha and Hyundai Motor plan roughly 140 tln, 60 tln, 55 tln and 42 tln won respectively, targeting semiconductors, AI and aerospace; LG and Doosan are also expected to follow. The announcement includes a national space strategy centred on Sacheon to build a southern coastal space industry belt.