I think you're grossly exaggerating the real estate implications. There are 25 million people in the capital region, and only a small fraction of them work in t

I think you're grossly exaggerating the real estate implications. There are 25 million people in the capital region, and only a small fraction of them work in the semiconductor industry. Relocating 200-300K people to a new industrial center might ease the pressure on housing a little bit, but there are millions more waiting to move in. Moreover, Seoulites really, seriously, desperately don't want to move out. The government has tried many times to create new cities away from Seoul with stable public-sector jobs; but a lot of people who work in Sejong, for example, just keep living in Seoul and make the 250km round trip every day. The 300K who actually moved to Sejong didn't make a dent in housing prices anywhere else, either.