Planning and Budget Minister Park Hong-geun said on Wednesday that Hyundai Motor's large-scale investment is an opportunity for Saemangeum to leap into a hub of future advanced industries.
"We will make it a representative success model of national balanced development by building infrastructure and driving regulatory innovation so that the investment can be realized in a timely manner," he said.
On Wednesday, Park visited Hyundai Motor's planned investment site (Plot 7 of the Saemangeum Industrial Complex) to review the company's investment plans.
Hyundai Motor is set to invest a total of 890 billion won on a 400,000-square-meter site in the Saemangeum Industrial Complex to build △a 100-megawatt-class AI (artificial intelligence) data center (580 billion won), △renewable energy facilities (130 billion won), and △a 200-megawatt-class water electrolysis plant (100 billion won). This is expected to generate a production ripple effect of 16 trillion won and create 71,000 jobs.
Minister Park also visited the Saemangeum 33 Center to receive reports on the progress of the Saemangeum New Port and Smart Waterfront City projects. At the venue, he stated, "We will continue to provide necessary support so that the opening of the newly completed new port wharf (two berths) and the development of related infrastructure can proceed as planned."
Prior to his visit to Saemangeum, Minister Park visited the "Physical AI Demonstration Lab" at Jeonbuk National University, observed a demonstration, and held a briefing with officials participating in North Jeolla's AX (AI transformation) R&D (research and development) projects.
Minister Park said, "Physical AI is a core technology that will enhance manufacturing competitiveness and create new growth drivers for the region," adding, "We will provide support so that technological development outcomes can lead to improved corporate productivity and expanded private investment."
Meanwhile, Minister Park attended the "35th Saemangeum Committee" chaired by Prime Minister Han Seong-sook, where they deliberated on the "Saemangeum Master Plan (MP) Amendment Proposal" and discussed future directions for the Saemangeum development project.
The government, which has invested 17 trillion won in national funds in Saemangeum development to date, included a budget of 222.2 billion won for the Saemangeum Development Agency in next year's budget proposal. This represents a 3.4% increase from this year. It also reflected budgets for transportation infrastructure development, including △the Saemangeum New Airport (120 billion won), △the Saemangeum Port Access Railway (56 billion won), and △the Saemangeum New Port (71.7 billion won). In particular, regarding the Saemangeum New Port, the Ministry of Planning and Budget plans to consult with relevant ministries such as the Ministry of Oceans and Fisheries on converting the development of the hinterland area into a public sector initiative, taking into account requests from North Jeolla Province.
In addition, the Ministry of Planning and Budget is set to consult with the Ministry of Land, Infrastructure and Transport on actively reflecting transportation networks linked to the Saemangeum Industrial Complex in the "5th National Railway Network Development Plan" and the "6th National Road Construction Plan," which are currently being formulated.
An official from the Ministry of Planning and Budget stated, "We plan to fully support large-scale regional investments by growth engine anchor companies such as Hyundai Motor, including in Saemangeum, by utilizing special subsidies for the Five Poles and Three Special Growth Engines newly reflected in the 2027 government budget."
in ECONOMY
