President Lee: "Relocating Yongin Semiconductor Complex Cannot Be Achieved by Political Requests"

President Lee Holds New Year’s Press Conference on the 21st
Lee: "Persuasion or inducement is possible"

President Lee Jae-myung is speaking at the New Year's press conference held at the Blue House State Guest House on the 21st. Photo by Yonhap News

On the 21st, President Lee Jae-myung addressed the proposal, mainly raised by lawmakers from the Honam region within the ruling party, to relocate the Yongin Semiconductor Cluster. He stated, "It is not something that can be achieved simply by politicians making requests to companies," adding, "For companies, economic factors are the most important."

President Lee made these remarks during a press conference held at the Blue House State Guest House under the theme "Great Transformation Together, Great Leap Forward for All." He said, "Companies will pursue something if it is profitable, even if their parents try to stop them. If it is not profitable, they will not do it, even if their own children ask. That is the nature of business."

He continued, "Who would pursue something that results in a loss or leads to failure?" and explained, "When it comes to business locations, we need to create conditions that provide long-term benefits and make it possible for companies to operate there."

Regarding the Yongin Semiconductor Cluster, President Lee said, "It is an extremely large project, planned out to 2048 and 2050," and drew a clear line by stating, "This is not something the government can change at will, and we cannot overturn a decision that has already been made as official government policy."

He emphasized, "This is not a matter to be decided politically. However, persuasion or inducement is possible."

Nevertheless, he added that there are aspects of relocating to the Honam region that could be advantageous for companies. President Lee noted, "The Yongin Semiconductor Cluster alone requires 13 gigawatts (GW) of electricity, which is equivalent to the output of 10 nuclear power plants," and questioned, "Where will that electricity come from?"

President Lee stated, "There is a high possibility that unavoidable circumstances will arise, and the fundamental principle should be that electricity is used in the region where it is produced, from the perspective of balanced regional development." He pointed out, "It is not sustainable to continue concentrating everything in the capital area, producing electricity in distant regions, building massive transmission towers, and transmitting power over long distances."

He also asked, "How will we secure water supply?" and analyzed, "The government's role is to persuade and help people understand these issues, and to ensure that relocating elsewhere does not cause any disruption or loss."

He concluded, "We must move in a direction completely opposite to the current approach-toward balanced regional development, growth based on safety and peace, and shared prosperity for all."