Lee calls for prompt execution of chip cluster, AI investment projects

President Lee Jae Myung on Monday called for the prompt execution of the government-led large-scale chip cluster and AI investment projects by expediting administrative procedures, including streamlining environmental impact reviews. The president made the call at a meeting with senior government officials and top executives of leading chipmakers — Samsung Electronics Co. and SK hynix Inc. — to discuss follow-up measures for the investment projects. Last week, the government unveiled the "three mega projects" initiative, centered on large-scale investments in semiconductors, physical artificial intelligence (AI) and AI data centers, as the country bets big on those advanced industries for its future. In particular, the government plans to establish a semiconductor production cluster in the southwestern Honam area, with Samsung and SK pledging to invest a combined 800 trillion won ($522 billion). "The world is witnessing very intense competition, while an entirely new future is being shaped around AI," Lee said in his opening remarks. "At a time when all-out competition that will deter