Lee Seats Samsung, SK Chiefs Beside Him as He Unveils Three Semiconductor, AI Mega Projects

President Lee Jae-myung on June 29 unveiled three mega projects in semiconductors and artificial intelligence, with Samsung Electronics Chairman Jay Y. Lee seated to his right and SK Group Chairman Chey Tae-won to his left. Throughout the event, Lee thanked corporate leaders for committing to invest and stressed cooperation between the government and industry.

Lee chaired the public briefing, titled "National Report on South Korea's Three Mega Projects for a Great Leap Forward," at the Blue House state guest house on June 29. The event was held under the slogan, "Beyond recovery to a great leap forward, a Korea of overwhelming competitiveness."

About 30 people attended, including economic ministers, heads of public institutions and executives from the semiconductor, AI, energy and telecommunications sectors. On the government side were Deputy Prime Minister and Finance Minister Koo Yun-cheol and ministers from the science and ICT, trade, industry and energy, land, infrastructure and transport, and climate ministries. The heads of Korea Electric Power Corp. and Korea Water Resources Corp. also attended.

Business attendees included Jay Y. Lee, Chey and representatives from GS, LG Electronics, KT, LG Uplus, Doosan Enerbility, FuriosaAI and Hanwha Qcells.

Lee entered the venue in a black suit and a tie in red, blue and gray. He shook hands first with Chey and then with Jay Y. Lee before moving to the main hall.

In his opening remarks, Lee repeatedly thanked business leaders. "I cannot help but express my appreciation to the two chairmen here with us," he said. He also thanked the business leaders "who are leading South Korea's industrial economy."

He rejected the notion that large corporate investments were being made under pressure. "This is not about forcing losses and risks on companies to meet a national need," Lee said. "The government's role is to help companies invest under better conditions through government support."

Lee also said he would oversee the three mega projects directly. "I will place a directly supervised official inside the Blue House for this project and personally manage the three mega projects," he said.

Near the end of the event, he again thanked industry. "I once again thank the business sector for making a major decision for a better future for the country and its people," Lee said.

Shin Hyun-bo, Hankyung.com reporter greaterfool@hankyung.com