South Korea's Ministry of Trade, Industry and Energy said on Wednesday that Minister Kim Jeong-gwan (김정관) chaired the fourth meeting of the public-private joint implementation task force for Chungjeondae, or the Chungcheong region's advanced strategic industries leap-forward initiative, at the Korea Trade Insurance Corporation. Companies investing in the Chungcheong mega project, local governments and relevant ministries attended. It came three days after Kim toured the site of the southwest semiconductor mega project on Oct. 12.

The task force was launched on July 3. Its purpose is to support the smooth implementation of the 392 trillion won investment in advanced strategic industries announced at a public report meeting in the Chungcheong region the same month. At the first meeting on July 30, companies shared investment plans and requests. The second meeting on Sept. 2 discussed solutions with relevant ministries for each request, and the third meeting on Sept. 10 reviewed permitting status by local government.

At the fourth meeting, Kim reviewed investment progress by company, difficulties and requests, and local governments' permitting efforts, based on earlier discussions. Investing companies shared their progress and raised permitting issues that need to be resolved within investment timelines. They also raised difficulties and requests related to infrastructure such as power and water. Local governments in the Chungcheong region presented permitting progress by company and future processing plans. For tasks requiring consultations among multiple agencies, participants agreed to resolve them through the task force together with relevant ministries.

The ministry plans to manage the difficulties and requests raised at the meeting by dividing them into tasks with relevant ministries and local governments. It will continue to check progress through the task force. It will also continue on-site inspections of investment locations. The ministry said it plans to visit regions across the country in sequence to review conditions on the ground, and that the Chungcheong meeting is part of that process.

Kim said large-scale investment is as important to execute without setbacks in the field as it is to draw up investment plans. He said the government will firmly support fast permitting related to investment, stable supplies of power and water, and an immediate response system for companies' difficulties.

Kim said he will also focus support on a seven-point core policy package, including incentives, taxes, manpower and settlement conditions needed for corporate investment. He said difficulties arising at company sites will be addressed immediately, and if necessary he will consult directly with the relevant minister to find solutions. He said he will follow through to ensure the Chungcheong mega project becomes a successful model of balanced development under the five hubs and three special zones framework.