South Korea Announces 'Corporate High-Tech Cities' Plan, Sets 800 Trillion Won Semiconductor Cluster in Gwangju

According to South Korea's Ministry of Land, Infrastructure and Transport on July 14, the government unveiled a comprehensive regional development strategy combining industrial complexes, special zones, and new cities in major provincial hubs. The strategy includes establishing 'corporate high-tech cities' where companies can invest according to their preferred location and method, replacing the traditional develop-then-sell model.

As part of this initiative, the government designated Gwangju Military Airport as the location for a 800 trillion won semiconductor cluster project in the Honam region, marking a key cornerstone of the broader '5 cores, 3 special zones' ultra-regional framework. The government will accelerate development timelines by conducting permitting, compensation, and design processes simultaneously, significantly reducing typical 10+ year cycles. Public institutions will begin relocating to Sejong City starting next year, with the presidential office targeting completion in August 2029.