“Maintain the plan even if the government changes … We must provide certainty that factories will be operational on schedule if investment is made in Korea”

The Special Act on Semiconductors, which takes effect in August, includes support for basic infrastructure such as electricity, water and roads, as well as support for research and development and demonstration projects, and the establishment of a special account. There have nevertheless been calls to secure the necessary budget in real terms and accelerate its execution.

Kim Eun-hye (金恩慧), a member of the National Assembly's Land, Infrastructure and Transport Committee, stated that she had identified as the National Assembly's top priority providing certainty that factories can be built and brought online on schedule if investment is made in Korea.

She emphasized the need for a principle under which infrastructure plans for semiconductor production hubs would remain unchanged even if the government changes, and said that global markets will not wait for Korea's timetable.

Regarding fiscal support, she indicated a willingness to use policy tools including direct subsidies, while noting that budget security and faster execution are required.

Discussions on easing labor regulations are also continuing, and the Minister of Employment and Labor has proposed special labor provisions and social dialogue. Labor and business groups are expected to be consulted before a bill is introduced to support the government's three major megaprojects.