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The Mayor of Busan Metropolitan City, Chun Jae-soo, Attends the “Yeongnam Region Advanced Industry Vision Briefing” as Samsung Electro-Mechanics Announces a KRW 15 Trillion Investment in Its Busan Plant by 2040

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Busan Metropolitan City announced that Mayor Chun Jae-soo attended the “Yeongnam Region Advanced Industry Vision Briefing,” held today (July 3) at 3:00 p.m. in the indoor gymnasium of Gyeongsang National University’s Chilam Campus in Jinju, where he shared the future vision for advanced industries in the Yeongnam region linked to Korea’s Three Mega Projects for National Transformation and signed investment agreements.

The “Yeongnam Region Advanced Industry Vision Briefing” was organized as a follow-up to the national briefing on the Three Mega Projects for National Transformation. Following similar events in the Gwangju and Chungcheong regions, the briefing provided an opportunity to share a vision for advancing the Yeongnam region’s advanced industries to the next stage.

The event was attended by Mayor Chun Jae-soo of Busan Metropolitan City, the heads of the five metropolitan governments in the Yeongnam region, the Deputy Prime Minister, the ministers of the Ministry of Economy and Finance, the Ministry of Science and ICT, the Ministry of Trade, Industry and Energy, and the Ministry of Government Policy Coordination, the Administrator of the Korea AeroSpace Administration, representatives of Korea’s leading conglomerates including Hanwha, Hyundai Motor, Samsung, SK, Doosan, and LG, as well as approximately 200 officials from related organizations.

The event also featured presentations by major corporations on their advanced industry investment plans in the Yeongnam region, along with the government's vision for advancing the region's high-tech industries and its strategy for fostering the aerospace industry. These presentations outlined a roadmap for developing the Yeongnam region into a key hub for future industries.

At the investment agreement ceremony, the centerpiece of the event, Roh Tae-moon, President and CEO of Samsung Electronics, stated, “The Yeongnam region is Samsung’s manufacturing innovation base and the heart of Korea’s advanced industries. By 2040, we will invest approximately KRW 15 trillion, centered on our Busan plant, in server package substrates and AI multilayer ceramic capacitors (MLCCs).”

Mayor Chun Jae-soo said, “I sincerely appreciate the bold investment decisions made by these major corporations to expand the future advanced industry ecosystem.” He added, “I wholeheartedly welcome Samsung Electro-Mechanics’ KRW 15 trillion investment plan for its Busan production base, one of the city’s flagship industrial facilities. Busan Metropolitan City will provide comprehensive administrative and financial support to ensure that this investment creates the greatest possible synergy with the infrastructure of Busan, the Maritime Capital of Korea.”