South Korean President Lee Jae-myung on July 3 hosted a regional investment showcase in Jinju, South Gyeongsang Province, where he announced a package of private-sector commitments totalling 312 trillion won (roughly $225 billion) to develop the Yeongnam region, the country's traditional manufacturing heartland, into a hub for advanced industries.
The event was the third in a series of regional rollouts following a national '3 Major Mega-Projects' announcement on June 29, which had already covered the southwest and Chungcheong regions. Lee framed the initiative as a direct answer to what he called 'the vicious cycle of metropolitan concentration and regional decline.'
The headline commitments break down as follows. SK Telecom pledged roughly 140 trillion won for AI data centres. Samsung committed about 60 trillion won to build production lines for humanoid robots and next-generation batteries. Hanwha earmarked around 55 trillion won for independent launch vehicles and observation satellites. Hyundai Motor Group will put in approximately 42 trillion won for advanced autonomous-vehicle manufacturing. LG and Doosan are also participating, according to the Kookmin Ilbo, with their contributions included in the overall 312 trillion won figure.
Lee singled out aerospace as 'a new engine of national livelihood,' and said the government would build a 'South Coast Space and Aerospace Industry Belt' linking satellites, launch vehicles, next-generation aircraft, and related businesses. Earlier the same day, the National Space Committee approved a strategy that includes building a Korean low-orbit satellite communications network and targeting a privately led lunar lander mission by 2030.
To keep the projects on track, Lee said a joint government-industry oversight meeting, to include president-level executives from Samsung Electronics and SK Hynix, would be held at Cheong Wa Dae on July 6. He promised the government would respond to corporate investment decisions with 'bold package support' combining tax policy, public finance, credit, deregulation, and infrastructure.