LG said it will invest 9.4 trillion won ($6.15 billion) in South Korea’s Yeongnam region through 2030 to strengthen artificial intelligence and advanced manufacturing infrastructure.
The plan announced on July 3 includes AI data centers, optical technology, AI semiconductor core substrates, and next-generation displays, with associated investments focused on Changwon and Gumi.
Yeongnam includes Busan, Daegu, Ulsan, North Gyeongsang and South Gyeongsang.
Some areas in the region are already industrial facilities.
In 2019, Ulsan and North Gyeongsang recorded manufactured goods exports of 193 trillion won (US$125 billion) and 139 trillion won (US$90.4 billion), respectively.
This announcement is also consistent with Korea’s regional industrial policy, which designates Yeongnam as a supply center for materials, components and equipment, and supports expedited permitting and development of power and water infrastructure.
Yeongnam’s investment also follows LG Corp.’s March 2024 announcement. on a domestic investment plan worth 100 trillion won (65 billion USD).
Lesson: Navigator Media
