Jung Won-ju, chair of Herald Media Group, Jungheung Group and Daewoo Engineering & Construction, has pledged 10 billion won ($7.4 million) to support the development of a semiconductor and artificial intelligence cluster in southwestern Korea.
Jung said the Lee Jae Myung administration’s three megaprojects for the Honam region, which comprises the Jeolla provinces and Gwangju, could create new growth opportunities and help address structural challenges including youth outflows, population decline and a weak industrial base.
“The government is pursuing a new strategy for balanced national development and industry that allows every region to grow by building on its strengths,” Jung said in opening remarks at the Global Semiconductor and AI Transformation Forum, held Thursday at the Gwangju Chamber of Commerce and Industry.
“These efforts are opening new possibilities through the Honam megaprojects being advanced as part of the broader drive for balanced regional development.”
Jung said combining Honam’s existing strengths in AI and energy with advanced industries such as semiconductors could turn the region into a major pillar of Korea’s future industrial economy.
“The Honam megaprojects are not simply about building a few semiconductor plants,” he said. “The region has long faced structural difficulties, including the departure of young people, population decline, challenges facing local universities and a limited industrial base.”
Successful implementation of the projects could help reverse those trends and transform Honam from a region young people leave into one that attracts talent, he added.
Jungheung Group, which owns Daewoo E&C, was founded in Honam and built much of its business in the region.
“Jungheung Group was born in Honam and grew on the foundation provided by the region,” Jung said. “We will donate 10 billion won to support the success of the Honam megaprojects and Korea’s semiconductor and AI cluster.”
Jung expressed hope that the commitment would encourage further participation from companies, universities and other institutions and contribute to the development of the regional industrial ecosystem.
mjh@heraldcorp.com
