On July 13, Yonhap News Agency reported that South Korea's ruling Democratic Party and the government forged a consensus on Monday, agreeing to ramp up support for the ambitious chip cluster and artificial intelligence (AI) investment projects recently unveiled by the government. They also committed to expediting the pertinent legislative procedures. Late last month, the South Korean government introduced the “Three Mega Projects” plan, which seeks to propel national transformation through semiconductors, on-premises AI, and AI data centers, with an estimated total investment of 4,755 trillion won (approximately US$3.16 trillion). Under this plan, Samsung Electronics is set to construct two memory chip factories in the Gwangju and Jeolla-do regions of South Korea, while SK Hynix will undertake the building of two additional wafer fabs. Han Byung-do, the acting leader of the Democratic Party, emphasized that, considering the ruling party has set up a special committee to champion these projects, it will proactively offer legislative and budgetary backing. Han further disclosed that the Democratic Party will endeavor to enact a special law by the year's end to loosen regulations and more effectively facilitate the plan's execution.