Chey Orders Rapid Semiconductor Factory Build

SK Group Chairman Chey Tae-won has ordered management to proceed with the construction of a semiconductor factory in Jeonnam-Gwangju with a sense of speed. This comes after Chairman Chey visited the prospective site for the semiconductor specialized complex in Jeonnam-Gwangju Unified Metropolitan City on October 9.

During the visit, Chairman Chey inspected key candidate sites, including the Gwangju military airport site and the ammunition depot area, along with SK hynix CEO Kwak Noh-jung and other key management. They received reports on the industrial complex development plan and infrastructure preparation from officials, including Jeonnam-Gwangju Unified Metropolitan City Mayor Min Hyung-bae.

The visit reflects the rapid increase in semiconductor demand, which has exceeded expectations. Chairman Chey predicted that even with the advanced construction schedule of the Yongin semiconductor cluster, it would still be insufficient to meet demand. He visited the site to confirm how quickly a factory could be built in Jeonnam-Gwangju.

SK hynix announced a blueprint in June to develop a new cluster worth 400 trillion won ($307.69 billion) in the Honam region. Since then, the management has visited the Gwangju site about 10 times and continued working-level discussions with the local government. Chairman Chey’s visit is expected to gain further momentum for the project’s promotion.

The local government has promised full support for the project. Mayor Min Hyung-bae expressed gratitude on behalf of the 3.2 million metropolitan citizens and clarified that they would firmly support the site, infrastructure, talent cultivation, and settlement conditions for SK hynix to stably construct and operate the factory.