By Lee Kap-soo

President Yoon Suk-yeol attended Saemangeum Second Battery Investment Agreement Ceremony held at the Saemangeum Convention Center in Gunsan, Jeollabuk-do on Aug. 2. Saemangeum has been emphasized by the President as a place for swift project implementation, and during his candidacy, he referred to it as the future of Jeollabuk-do, the West Coast, and South Korea.

Before the investment agreement ceremony, the President visited the exhibition hall to learn about LS, a participating company, and its products.

President Yoon engaged in a conversation with LS representatives while examining a container containing battery precursors, discussing the process of converting precursors into cathodes and acknowledging South Korea's manufacturing technology. He also visited the booth of Enchem, a company producing battery electrolytes, and praised their efforts to localize lithium-ion production by initiating production facilities.

During the subsequent agreement ceremony, the President made encouragement, stating that "secondary batteries, along with semiconductors, are at the core of South Korea's strategic assets and at the center of global technology competition." He emphasized the significance of LS Group's investment in domesticating secondary battery materials to establish a stable and independent supply chain, remarking that Saemangeum, with its ease of integration for battery-related companies, could be considered an optimal platform.

The President reaffirmed his commitment to support domestic and international companies to invest in Saemangeum whenever he visits Jeollabuk-do. He highlighted that this year, Saemangeum was designated as an investment promotion zone and an advanced industry specialized zone, leading to regulatory reforms and improved investment environments through tax incentives and budget support.

Furthermore, the President mentioned the completion of internal infrastructure in Saemangeum, the inauguration of the first and second stages of the inter-regional connecting road in January and July, respectively, and the forthcoming groundbreaking for inter-regional connecting road construction.

He highlighted the government's efforts, leading to a total investment decision of KRW 6.6 trillion from 30 companies since the government's establishment, surpassing six times the investment decision amount of KRW 1 trillion during the past five years, and more than four times the results achieved over the last nine years, which amounted to KRW 1.5 trillion.

The President also touched on other regional developments, such as the designation of a hydrogen industry in Wanju and a future food specialized zone in Iksan in March, and the restart of Hyundai Heavy Industries' Gunsan shipyard, fulfilling the promises made during the presidential election, and the government's support for Jeollabuk-do.

Finally, he mentioned that next year, the long-awaited Jeollabuk-do Special Self-Governing Province will be established, stating that the development of Jeollabuk-do and Honam region is crucial for the advancement of South Korea.

The event was attended by the signing parties, including LS CEO Myung Noh-hyun, L&F CEO Choi Soo-an, Saemangeum Development Authority Chairman Kim Kyung-an, and Jeollabuk-do Governor Kim Gwan-yeong, as well as LS Group Chairman Gu Ja-eun, National Assembly members Lee Yong-ho and Jung Woon-chun from the ruling party, and Shin Young-dae from the opposition party, and other local dignitaries, totaling about 200 participants who congratulated the investment agreement ceremony.