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By Park Boram

SEOUL, Aug. 10 (Yonhap) -- President Lee Jae Myung on Monday urged the government to make every effort, including through deregulation, to implement as soon as possible its large-scale investment initiative for artificial intelligence (AI)-related facilities.

The president made the renewed call at the second meeting he has presided over to assess the progress since his administration unveiled the "three megaprojects" in late June that outlined plans for large-scale investments in a semiconductor production cluster, physical AI and AI data centers in regional areas.

Under the chip cluster project alone, the two leading chipmakers -- Samsung Electronics Co. and SK hynix Inc. -- have pledged to invest a combined 800 trillion won (US$564.9 billion), marking the single-largest investment plan to date in the southwestern city of Gwangju and the surrounding Honam area.

Lee said all necessary administrative steps should be pursued simultaneously to shorten the time needed to implement the initiative, while stressing that regulations should also be improved to ensure the implementation can be carried out as quickly as possible.

"We are in a situation where we must go beyond being speedy and move with the speed of lightning," the president said.

He also instructed officials to transfer the functions of a military airport in Gwangju to other temporary facilities by 2028 to facilitate the speedy transformation of the regional airport into a semiconductor production hub.

The government earlier designated the military airport as the site for the envisioned chip cluster.

The ultimate goal of the investment initiative should be to distribute the pillars of growth across the country and make regional areas new centers of future industries, the president insisted.

"I hope that benefits from achievements garnered through the capabilities of the entire community will not be limited to certain companies or regions," Lee said.

He said the following year should be a "golden time" that will open up a totally new world for South Korea depending on "how we prepare," urging officials to make every effort.

pbr@yna.co.kr

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