Samsung's Participation Needed for Saemangeum Industrial Complex

Last month, the handshake between President Lee Jae-myung and Hyundai Motor Group Chairman Chung Euisun at Saemangeum in Gunsan, North Jeolla Province, was a symbolic moment destined to be recorded in Korea's economic history. Hyundai Motor Group's announcement of a 9 trillion won investment in Saemangeum signaled that the area, which had remained merely a "promised land" for decades, has finally transformed into a "land of action."

Once realized, this investment will bring an AI data center, robot cluster, and green hydrogen plant to a 1.12 million square meter site. The approximately 70,000 jobs to be created will serve as a powerful energy source for regional economies on the brink of decline and become a decisive momentum for ushering in a true era of regional development. However, before celebrating, we must soberly reflect on past lessons. We remember the painful history of numerous large-scale projects that remained wrapped in flashy memoranda of understanding without ever materializing into actual factory smokestacks.

Hyundai Motor's pioneering investment has become the most reliable guarantee proving Saemangeum's potential. To sustain this momentum, the participation of Samsung, a flagship of our economy, is urgently needed. In fact, there remains an old wound between Samsung and Saemangeum from when a 23 trillion won renewable energy investment MOU fell through in 2011. However, today's Saemangeum is completely different from over a decade ago. Port Terminal 2 is set to open within the year, and the "Tri-Port" infrastructure connecting rail and airport is nearing completion. Above all, Hyundai Motor has proven that Saemangeum is an optimal location for manufacturing and logistics. Saemangeum has now emerged as a "strategic stronghold" capable of securing global competitiveness.

The reasons Samsung should refocus on Saemangeum are clear. First is "energy sovereignty." Saemangeum is Korea's only eco-friendly energy hub producing 7GW of renewable energy, expandable to 10GW. In an era where achieving RE100 has become a survival condition for global companies, Saemangeum—producing large-scale green power from wind and solar—is the optimal location to support Samsung's ESG management.

Second is "cross-industry convergence synergy." As Hyundai Motor builds a hydrogen and robotics ecosystem, Samsung's ultra-gap technologies must be integrated in areas such as next-generation energy storage systems, bio plants, and AI-based smart manufacturing systems. If Hyundai's mobility meets Samsung's semiconductors, batteries, and energy solutions in Saemangeum, it can transform into the world's premier "advanced industry mecca." To achieve this, the government and political circles must provide full support to businesses. The government should boldly streamline permit procedures and apply regulatory sandboxes to create a playing field where companies can operate freely. Administrative efforts must also focus on establishing settlement conditions including education, healthcare, and housing so that corporate executives and employees feel their decision to come to Saemangeum was the right one. An ecosystem must be created where companies can take root and grow.

Saemangeum is the grandest stage for realizing President Lee's governing philosophy of "balanced regional development." If Hyundai and Samsung, Korea's two flagship conglomerates, raise their sails together on the vast sea of Saemangeum, our economy can take another leap forward. Only when Hyundai Motor and Samsung join hands with full support from the administration and political circles can the door to Saemangeum's "Age of Great Voyages" be opened, igniting a new engine for Korea's future growth.