The planning of the Longin Semiconductor National Industrial Park in South Korea has been approved three months in advance, which will accommodate six wafer fabs, three power plants, and more
Dec 28,2024
The South Korean government approved the planning of the world's largest semiconductor industrial park, Longin Semiconductor National Industrial Park, three months in advance. This approval marks an important milestone for the South Korean government to accelerate the development of strategic industrial projects, shortening the time from candidate site selection to industrial park designation from over four years to one year and nine months.
The approval ceremony was held on December 26th at Samsung Electronics' Gyeonggi Province Qixing Park, with major stakeholders in attendance, including the Ministry of Land, Infrastructure, Transport, Gyeonggi Province, Longin City, South Korea Land and Housing Corporation (LH), and Samsung Electronics. During the event, the South Korean government announced a special development plan for the Longin Semiconductor National Industrial Park, demonstrating the government's commitment to cultivating the semiconductor industry.
Longren Semiconductor National Industrial Park is a large-scale national strategic project covering an area of 7.28 million square meters. The park aims to accommodate six large wafer fabs, three power plants, and over 60 material, component, and equipment partner companies, primarily small and medium-sized enterprises. The project is expected to attract up to 300 trillion Korean won in private investment, create 1.6 million job opportunities, and generate additional value such as 700 trillion Korean won in production incentives when fully completed.
In order to further accelerate the project progress, the government has advanced the start date by three years and six months, until December 2026. This progress is due to the rapid compensation program scheduled to begin in 2025. In addition, the government plans to expand key infrastructure such as roads, water, and electricity to ensure that the first semiconductor production plant can be put into operation before 2030.
Bringing major microelectronics manufacturers such as Samsung and SK Hynix and their suppliers together in a large Longin Semiconductor cluster is a wise move for the South Korean government, as it will promote close cooperation between chip manufacturers and their suppliers, which may accelerate the development of new process technologies or shorten production time.
The Longren Semiconductor National Industrial Park is not only an industrial undertaking, but also aims to develop surrounding residential areas in a comprehensive manner, creating a comprehensive city centered on industry. This approach is in line with broader regional development policies aimed at achieving balanced and sustainable urban development, while supporting industrial activities and improving the quality of life for residents.
At the same time, Kim Yong kwan, President of DS Business Strategy at Samsung Electronics, emphasized in his speech at the ceremony that advancing the Longin Semiconductor National Industrial Park as planned is crucial to ensuring global competitiveness.
Kim Yong kwan also emphasized the need for infrastructure expansion support, especially in road construction, to address the expected traffic issues around the park. After the completion of the Longin Semiconductor National Industrial Park, surrounding transportation is expected to become a major issue. Taking the Pyeongtaek factory in Gyeonggi Province as an example, although six lane roads were ensured during the park construction period, there are still many problems with daily commuting, "he explained. When inland cities move in, serious traffic problems may arise, so expanding local roads is crucial
The approval ceremony was held on December 26th at Samsung Electronics' Gyeonggi Province Qixing Park, with major stakeholders in attendance, including the Ministry of Land, Infrastructure, Transport, Gyeonggi Province, Longin City, South Korea Land and Housing Corporation (LH), and Samsung Electronics. During the event, the South Korean government announced a special development plan for the Longin Semiconductor National Industrial Park, demonstrating the government's commitment to cultivating the semiconductor industry.
Longren Semiconductor National Industrial Park is a large-scale national strategic project covering an area of 7.28 million square meters. The park aims to accommodate six large wafer fabs, three power plants, and over 60 material, component, and equipment partner companies, primarily small and medium-sized enterprises. The project is expected to attract up to 300 trillion Korean won in private investment, create 1.6 million job opportunities, and generate additional value such as 700 trillion Korean won in production incentives when fully completed.
In order to further accelerate the project progress, the government has advanced the start date by three years and six months, until December 2026. This progress is due to the rapid compensation program scheduled to begin in 2025. In addition, the government plans to expand key infrastructure such as roads, water, and electricity to ensure that the first semiconductor production plant can be put into operation before 2030.
Bringing major microelectronics manufacturers such as Samsung and SK Hynix and their suppliers together in a large Longin Semiconductor cluster is a wise move for the South Korean government, as it will promote close cooperation between chip manufacturers and their suppliers, which may accelerate the development of new process technologies or shorten production time.
The Longren Semiconductor National Industrial Park is not only an industrial undertaking, but also aims to develop surrounding residential areas in a comprehensive manner, creating a comprehensive city centered on industry. This approach is in line with broader regional development policies aimed at achieving balanced and sustainable urban development, while supporting industrial activities and improving the quality of life for residents.
At the same time, Kim Yong kwan, President of DS Business Strategy at Samsung Electronics, emphasized in his speech at the ceremony that advancing the Longin Semiconductor National Industrial Park as planned is crucial to ensuring global competitiveness.
Kim Yong kwan also emphasized the need for infrastructure expansion support, especially in road construction, to address the expected traffic issues around the park. After the completion of the Longin Semiconductor National Industrial Park, surrounding transportation is expected to become a major issue. Taking the Pyeongtaek factory in Gyeonggi Province as an example, although six lane roads were ensured during the park construction period, there are still many problems with daily commuting, "he explained. When inland cities move in, serious traffic problems may arise, so expanding local roads is crucial