The Path Opens for the Seoul Metropolitan Area Semiconductor Specialized Complex

Agreement on the Amendment to the Advanced Strategic Industry Act

[Asia Economy Reporter Oh Ju-yeon] The ruling and opposition parties have opened the way to establish specialized complexes in the Seoul metropolitan area through the amendment of the National Advanced Strategic Industry Act, one of the Semiconductor Special Laws (K-Chips Act).

According to the bill review materials from the National Assembly's Industry, Trade, Energy, Small and Medium Business Committee on the 30th, the ruling and opposition parties created an exception allowing specialized complexes to be established in the metropolitan area by newly adding the clause "areas where operators and support facilities engaged in strategic industries are located or intend to locate," instead of prioritizing "areas outside the metropolitan area" for balanced development. During the previous bill discussions, some pointed out that the clause could "encourage concentration in the metropolitan area," but it is interpreted that industry demands to "establish national industrial complexes in the metropolitan area, where national advanced strategic industry complexes are concentrated, for future facility investments" were more reflected.

Earlier, the ruling and opposition parties agreed to process a revised bill combining the 'National Advanced Strategic Industry Act' proposed by independent lawmaker Yang Hyang-ja and Democratic Party lawmaker Kim Han-jung.

The revised bill strengthened the speed and autonomy of site selection related to the establishment of semiconductor industry specialized complexes. The current law's provision that "the specialized complex establishment procedure should be processed promptly" allows the Minister of Trade, Industry and Energy to request designation to the Minister of Land, Infrastructure and Transport if the necessity of establishing a specialized complex is recognized, and the Minister of Land, Infrastructure and Transport is to prioritize its promotion.

Additionally, the revised bill focused on easing difficulties in permits and approvals compared to the current law. The notification period for permit and approval processing results, previously within 30 days, was shortened to 15 days to prevent delays from hindering the establishment of specialized complexes.

Regarding resident institutions, the amendment changed the provision to require the state or local governments to support all or part of the costs. With support for resident institutions becoming mandatory, it is expected to promote domestic investment and secure global competitiveness.

Regarding the expansion of special cases for preliminary feasibility study exemptions, public enterprises and quasi-governmental institutions were included in the exemption targets to enable rapid establishment of sites and power infrastructure for specialized complexes.

This content was produced with the assistance of AI translation services.