A joint project to establish an integrated waterway for Samsung Electronics and SK Hynix is being pursued by the public and private sectors.
The Ministry of Economy and Finance announced that Vice Minister Kim Beom-seok held the first expanded investment express meeting to discuss the construction of a waterway integrating the national industrial complex and general industrial complex in Yongin City, Gyeonggi Province.
Initially, separate waterways were planned for the national and general industrial complexes. However, concerns arose about water supply disruptions in case of emergencies in the national industrial complex and potential delays in the compensation process for the general industrial complex.
To address these issues, the government and the Water Resources Corporation decided to construct a dual waterway for both companies to use jointly, aiming to reduce costs and achieve stability and timeliness compared to building separate waterways.
In order to expedite the construction of the integrated waterway, the government amended regulations on the participation of the Water Resources Corporation in the waterway project on October 3 and received approval for exempting the preliminary feasibility study for the waterway project at a Cabinet meeting on October 30.
During the meeting, representatives from Samsung Electronics and SK Hynix expressed their gratitude for the government’s support for semiconductor-related investment, including infrastructure development, and requested continued interest from relevant agencies in building core infrastructure such as power supply.
Vice Minister Kim emphasized the need for quick progress in the establishment of the semiconductor cluster in the early stages and called for swift procedures and infrastructure development by relevant ministries.
This meeting marks the first meeting of the expanded investment express at the vice ministerial level. Vice Minister Kim highlighted the fierce global competition for leadership in the semiconductor industry and announced that he chose the semiconductor mega cluster in the southern Gyeonggi region as the first visit location.
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