President Lee Jae-myung emphasized on the 27th that the government will respond with "even bolder support" to Hyundai Motor Group's decision to invest 9 trillion won in Saemangeum, calling it "a courageous corporate decision."
Hyundai Motor Group will invest nearly 10 trillion won over more than five years in the Saemangeum region of North Jeolla Province to develop it into a hub for future industries including artificial intelligence, hydrogen energy, and robotics.
"We will ensure living conditions so that companies and employees relocating to the region experience no inconvenience," President Lee said. "We will dramatically lower regulatory and administrative barriers so businesses can fully demonstrate their capabilities and grow further."
President Lee made these remarks at the "Saemangeum Robot, Hydrogen, and AI City Investment Agreement Ceremony" held at the Gunsan Saemangeum Convention Center (GSCO) in North Jeolla Province.
"I deeply thank Chairman Chung Euisun and Hyundai Motor Group executives and employees for making this major decision," President Lee said, expressing gratitude multiple times for the investment decision. Looking at Chairman Chung, President Lee added encouragingly, "Chairman Chung Ju-yung would be proud."
Hyundai Motor Group's strategic investment of 9 trillion won includes 5.8 trillion won for AI data centers, 400 billion won for robot manufacturing plants, 2.3 trillion won for solar power generation, and 400 billion won for autonomous vehicles, hydrogen trams, and ships. The investment is expected to generate 16 trillion won in economic impact and create 70,000 jobs.
The Presidential Office characterized the agreement ceremony as a symbolic starting point for developing Saemangeum into an advanced industry hub and hydrogen-based AI future city, leveraging large-scale investments that consolidate robot, hydrogen, and AI industries. Officials expressed expectations that this could create new momentum for both a national emerging industry ecosystem and regional development.
Kim Eui-kyeom, Commissioner of the Saemangeum Development Agency, conveyed Chairman Chung Euisun's statement: "I want to develop Saemangeum beyond what Ulsan has become."
President Lee explained that "Saemangeum boasts vast land approximately 140 times the size of Yeouido and abundant sunlight, while steadily building logistics and transportation infrastructure." He added, "If Hyundai Motor Group's innovation capabilities combine with abundant resources, Saemangeum will become a land of opportunity generating optimal synergy."
"Saemangeum's wind and sunlight will be converted into clean energy and green hydrogen," President Lee said. "Green hydrogen will be supplied to nearby industrial complexes such as Jeonju and Wanju, becoming a core driver of regional industry and a solid foundation for the advanced industries to be established in Saemangeum."
President Lee also promised the establishment of large-scale robot manufacturing plants, parts clusters, and AI data centers that will lead global physical AI based on clean energy.
"Logistics and industrial robots mass-produced for the first time domestically at the robot manufacturing plant will continuously learn through integration with the AI data center," President Lee said. "Based on advanced technology, Saemangeum will certainly be reborn as a 'future city' where anyone can conveniently use robots in daily life."
President Lee stated the project "is expected to completely transform the economic map of the entire Honam region," adding that "outstanding talent from home and abroad will gather in Saemangeum, North Jeolla, and Honam, while local youth will be able to pursue their dreams in their hometown without leaving for the capital region to find jobs."
"This government will firmly support this to become the best model case for corporate regional expansion and to return even greater benefits to businesses and regions," President Lee concluded. "We will do our best to ensure that bold regional investment by corporations, starting from Saemangeum, continues throughout the country."