South Korea's Lee urges speed in launching mega chip projects

July 6, 2026 - 12:34

South Korean President Lee Jae Myung on Monday directed government officials to speed up work on large-scale semiconductor and artificial intelligence projects that were announced the previous week. He cautioned that hold-ups in getting permits, buying land, and arranging electricity and water connections could hurt the country's effort to lead in high-tech fields.

"Given the current situation, it looks like the result will come down to who acts quicker and who grabs the lead first," Lee said during a government meeting.

The president's push comes as South Korea faces growing competition from other nations trying to build up their own chip industries. The projects are seen as central to the country's economic future, with semiconductors making up a large share of its exports. Lee stressed that bureaucratic delays could cost the country its edge, especially as global demand for advanced chips and AI technology continues to rise. Officials are now expected to streamline approval processes and coordinate with local governments to clear the way for construction. No specific timeline was given, but the president made clear that urgency is the priority.