Seoul: President Lee Jae Myung on Saturday rejected criticism by opposition sides that the government's large-scale regional investment drive is aimed at boosting his approval ratings, saying the three "megaprojects" are designed to create new hope and a future for the country.
According to Yonhap News Agency, the government recently unveiled its "three megaprojects" initiative, which envisions a national transformation driven by semiconductors, physical artificial intelligence (AI), and AI data centers. The ambitious plan calls for a total investment of 4,755 trillion won (US$3.11 trillion).
As part of the scheme, major corporations have announced significant investments. Samsung plans to build two memory chip fabrication plants in the southwestern city of Gwangju, while SK hynix intends to construct two fabs in the surrounding Jeolla provinces under a combined investment plan worth 800 trillion won.
President Lee addressed the timing of the projects, stating, "If the projects had been intended to manage approval ratings, they would have been launched ahead of the June 3 local elections." He emphasized that the national transformation plan was a vision he had long held, even before assuming office.
In response to claims from the main opposition People Power Party that political motivations were behind the projects, Lee asserted that "tangible results that improve people's lives" are of greater importance than approval ratings. He underscored the initiative's potential to "create new hope and opportunities for the country," vowing to make "all-out efforts to give hope, dreams, and vitality to young people."