[Exclusive] South Korea’s Presidential Office Weighs Senior-Level Unit for National Investment

Unit would oversee three mega-projects, including semiconductors

South Korea’s presidential office is considering creating a senior-level unit dedicated to large-scale national investment, according to a senior official. The new organization would oversee three “mega-projects,” including semiconductors.

A senior official at the presidential office said on Aug. 6 that officials are reviewing a plan to establish a senior-level body to handle national-scale investment. In the government hierarchy, a senior-level post is equivalent to a vice minister. Titles under discussion include “National Investment Planning Secretary” and “Strategic Investment Planning Secretary.”

Officials have not yet decided whether the unit would report directly to the presidential chief of staff or fall under the policy chief.

President Lee Jae-myung earlier said the country is engaged in an all-out competition with the nation’s future at stake. In such an environment, the outcome will be determined by who moves faster, he said. Lee also said a directly controlled official is needed to accelerate administrative procedures.

Han Jae-young and Kim Hyung-kyu, Korea Economic Daily reporters, jyhan@hankyung.com