President invokes Samsung founder's 1983 chip-industry entry in praising Lee Jae-yong's investment push President Lee Jae Myung delivers remarks at a public briefing on the development vision for advanced industries in the Chungcheong region in Asan, South Chungcheong Province, on Thursday. (Pool Photo via Yonhap) President Lee Jae Myung on Thursday dismissed claims that the government had pressured companies into making large-scale regional investments as "outdated," stressing that companies invest where it makes the most economic sense.Speaking in Asan, South Chungcheong Province, Lee also pushed back against criticism that the government's regional development drive amounted to handing out "gifts" to certain areas. Such investments, he added, should not be viewed as competition among regions.Samsung Electronics Chairman Lee Jae-yong and Celltrion Group Founder and Chairman Seo Jung-jin also attended the presentation of investment plans totaling 392 trillion won ($252.3 billion) for the Chungcheong region across four sectors seen as key to AI-driven industries. The plans were announced by major companies including Samsung Group, SK hynix and Celltrion.The planned investments include 156 trillion won for semiconductors, 67 trillion won for displays, 17 trillion won for secondary batteries and related components, and 2 trillion won for biotechnology. The package also includes plans to launch AI data centers worth 150 trillion won."Chungcheong has enormous growth potential," Lee said during the event at Samsung Display's Asan campus."If strategic corporate investments are combined with the government's firm commitment, Chungcheong will rise beyond being the center of Korea's advanced industries to become a global hub of innovation leading the AI era." President Lee Jae Myung (center), Samsung Electronics Chairman Lee Jae-yong (left) and Celltrion Chairman Seo Jung-jin salute the national flag during a public briefing on the development vision for advanced industries in the Chungcheong region in Asan, South Chungcheong Province, on Thursday. (Pool photo via Yonhap) During the event, Lee underscored the rationale behind his administration’s push to strengthen South Korea’s global competitiveness in AI-driven industries while promoting more balanced national growth, dismissing criticism that the investment plans amounted to regional favoritism.Lee pointed out that South Korea had long pursued a growth strategy centered on the capital region and certain provincial areas."The harmful effects of concentration in the capital region have become so severe that it has become burdensome even for companies to do business there," Lee said.Against that backdrop, Lee stressed that the government should support companies so that they can base operations in the most suitable regions."From the companies' perspective, investments should be concentrated in the most efficient locations and in the most efficient manner," Lee said. "This is not about handing out gifts."Lee also dismissed criticism that major chipmakers' investment decisions may have been influenced by government pressure."These days, some people still seem to hold the outdated notion that Samsung Electronics may have made such a decision because I pressured Chairman Lee Jae-yong," Lee said. "The notion that companies can be pressured or forced into making such decisions is itself outdated thinking, rooted in the era of government-directed economic management."President Lee further praised Samsung Electronics chairman's decision."As I listened to Chairman Lee Jae-yong's remarks earlier, I was reminded of that historic moment in 1983 when the late Chairman Lee Byung-chul declared Samsung's entry into the semiconductor industry in Tokyo," Lee said."Just as the foresight shown on that day helped make Korea a global semiconductor powerhouse, I am confident that Chairman Lee Jae-yong's decision today will usher in a new leap forward for Korea's advanced industries." Samsung Electronics Chairman Lee Jae-yong delivers welcoming remarks at a public briefing on the development vision for advanced industries in the Chungcheong region, hosted by President Lee Jae Myung in Asan, South Chungcheong Province, on Thursday. (Pool Photo via Yonhap) In his remarks, Chairman Lee highlighted how the Chungcheong region has served as a key base for Samsung's growth over the past several decades."Thirty years ago, this area of Asan was a vast vineyard. Today, it has become the world's largest display production complex," he said. "Chungcheong, located at the heart of the country, will achieve even greater growth as a global hub for IT materials and components."Chairman Lee said Samsung Electronics' campus in Onyang is being transformed into a production base for advanced HBM5 chips, while Samsung Electro-Mechanics' Sejong campus now manufactures AI server package substrates. The chairman added that Samsung SDI's Cheonan campus has become a key production base for next-generation batteries."Samsung's dreams took root, grew and bore fruit here in Chungcheong," he said.Samsung Group said it plans to invest about 140 trillion won in the Chungcheong region, for semiconductor, display, battery and package substrate facilities.SK hynix announced a 100 trillion won investment in Cheongju, centered on its M17 NAND flash fab and advanced packaging facilities. Celltrion said it would invest about 2 trillion won in biopharmaceutical manufacturing operations.The event marked the second stop in Lee's nationwide tour promoting the government's 1,500 trillion won regional investment blueprint unveiled Monday, centered on semiconductors, AI data centers and physical AI.President Lee traveled to Gwangju on Tuesday to highlight investment plans for the southwestern Honam region and is scheduled to visit Jinju, South Gyeongsang Province, on Friday for a similar event focused on the southeastern Yeongnam region.