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On July 3, Choo Kyung-ho, the Deputy Prime Minister and Minister of Economy and Finance in South Korea, announced that the government is set to incentivize companies to pour more than 312 trillion won (around US$204 billion) into the southeastern region (Gyeongsang area) to foster the growth of cutting-edge manufacturing and AI sectors. Specifically, SK Group, Samsung, Hanwha, and Hyundai Motor are poised to invest roughly 140 trillion, 60 trillion, 55 trillion, and 42 trillion won, respectively, with a keen focus on industries such as semiconductors, AI, and aerospace. Moreover, LG and Doosan are also slated to join in the investment endeavor. Furthermore, South Korea has rolled out a national aerospace strategy, with Sacheon as its focal point, striving to establish a southern coastal aerospace industry corridor.
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