President Lee Announces Plan to Build a Southern Coastal Aerospace Industrial Belt

President Lee Jaemyung announced at the Yeongnam Region Advanced Industry Development Vision Public Report Meeting and the National Space Committee meeting held in Jinju, South Gyeongsang Province on the 3rd that he would fully build the southern coast aerospace industry belt. President Lee explained that the government would boost future industrial competitiveness by combining the manufacturing base of the Yeongnam region with advanced industries such as physical artificial intelligence, aerospace, semiconductors, robotics, shipbuilding, and energy. The government’s policy is to create an industrial ecosystem that connects satellites, launch vehicles, future aircraft, and new space industries. He also said that the aerospace industry would be regarded as both the foundation of national security and a new growth sector, and that related regulations would be eased to the extent that they do not compromise public safety. At the meeting that day, an aerospace industry development strategy was also approved, including the establishment of a Koreanstyle low Earth orbit satellite communications network and the launch of a privately led lunar lander in 2030.