In Malaysia, the Cyberjaya, Putrajaya and KLIA development projects were once labeled as mega-triple projects because the construction costs reached tens of billions. After almost 30 years of opening, many no longer see these three landmarks as mega projects but as necessary construction to drive the country's technology industry. Today, South Korea announced Three Mega Projects that will cost 1 quadrillion Won (~RM 2.64 trillion).
These Three Mega Projects were announced by President Lee Jae-myung to develop South Korea's semiconductor hub, artificial intelligence (AI) data center and robotics technology. At the same time, it will provide a boost to the economic sector outside Seoul. This 1 quadrillion Won investment will be made by the Korean government over a period of 10 years.
President Lee stressed that Korea must master the core elements of AI faster than other countries. South Korea is now facing competition from neighboring countries Taiwan, China and Japan, which are also increasing investment in chip factories to ensure the future of their technology sectors.
The announcement was made at a ceremony attended by representatives of South Korea's largest companies, namely Samsung Electronics, SK Group, LG Electronics, HD Hyundai Robotics, Korea Electric Power Corp and Korea Water Resources Corp. At the same ceremony, Samsung and SK Hynix announced that two new large-scale chip fabrication sites worth 800 trillion won (~RM 2.1 trillion) will be built to support the local chip production ecosystem.
