South Korea Plans $540 Billion Honam Semiconductor Hub in Southwest by 2030

South Korea plans to establish the Honam semiconductor industrial complex in its southwest region at an estimated cost of at least 800 trillion won, or $540 billion. The Japan Times reported that the government seeks to complete the project within four years, targeting the end of President Lee Jae Myung’s term in 2030.

A memorandum of understanding signing ceremony for the development vision took place in Gwangju on June 30.

Companies including Samsung Electronics are involved in the plan, which is intended to spread gains from the AI chip boom beyond the Seoul metropolitan area. Local opposition to the project’s power and water requirements is expected to present major obstacles. The Japan Times reported that participating companies will need to secure new energy sources to power the complex.