Democratic Party's Mega-Growth Special Committee holds Saemangeum field briefing

Hyundai Motor's Jang Jae-hoon says speed of special legislation is key

Democratic Party of Korea leader Kim Min-seok (right), Hyundai Motor Vice Chairman Jang Jae-hoon (center) and North Jeolla Province Governor Lee Won-taek pose for a photo at the Democratic Party's Mega-Growth Special Committee field briefing held Thursday at Saemangeum in North Jeolla Province. [Yonhap]
Democratic Party of Korea leader Kim Min-seok (right), Hyundai Motor Vice Chairman Jang Jae-hoon (center) and North Jeolla Province Governor Lee Won-taek pose for a photo at the Democratic Party's Mega-Growth Special Committee field briefing held Thursday at Saemangeum in North Jeolla Province. [Yonhap]

Democratic Party of Korea leader Kim Min-seok visited Saemangeum in North Jeolla Province on Thursday, saying he had developed "a grand hope" that the region could become the world's top physical AI hub if investment led by Hyundai Motor proceeds well.

Kim made the remarks at a field briefing of the Democratic Party's Mega-Growth Special Committee held in Gunsan, North Jeolla Province, describing the event as an occasion for the party to review legislation and budget measures needed to back North Jeolla's vision of becoming "No. 1 in physical AI."

The Saemangeum development project is part of the government's three major mega-projects, a key national policy agenda. Kim had previously supported the initiative as prime minister by convening meetings of the Saemangeum and North Jeolla Grand Innovation TF. Hyundai Motor Group is carrying out a plan to invest about 9 trillion won ($6.74 billion) in Saemangeum by 2029.

Rep. Kwon Chil-seung, standing vice chairman of the special committee, said Prime Minister Han Seong-sook approved an amendment to the Saemangeum master plan on Wednesday, adding that the development target had been moved up by about 15 years and that all preparations for progress were now in place.

Rep. Ahn Ho-young, chairman of the committee's North Jeolla subcommittee, said the site was where Kim's vision of a "golden age" was becoming reality. Ahn urged members to listen carefully to the requests of anchor companies, including Hyundai Motor, and to reflect the necessary deregulation, legislation and budget support so that Saemangeum could become the leading model for the kind of rapid advance the president had called for.

North Jeolla Province Governor Lee Won-taek said the prime minister's office had established a TF that identified about 100 tasks, of which the province had turned 43 into special provisions. "There are seven legislative tasks in the National Assembly supporting Saemangeum," Lee said. "They need to pass in the November–December Assembly session."

Hyundai Motor Vice Chairman Jang Jae-hoon said speed was the most critical factor. "If the resolution of related regulations and the passage of bills on special provisions are achieved in a timely manner — to the extent we hope for and can be supported — we will work hard to accelerate and make this an unprecedented global benchmark," Jang said.


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