U.S. Advanced Companies to Invest $2 Billion in Korea, Strengthening Semiconductor and Offshore Wind Supply Chains

[Financial News]  
Four U.S. companies in the semiconductor, advanced materials and clean energy sectors will invest a total of $2 billion (approximately 2.8 trillion won) in Korea. In particular, a U.S. semiconductor equipment company will expand its production facilities in Korea and develop them into an export hub for the Asia-Pacific region.
The Ministry of Trade and Industry said on the 3rd (local time) that it held a U.S. company investment declaration ceremony and roundtable in Washington, D.C., together with the Korea Trade-Investment Promotion Agency (KOTRA).
Four U.S. companies—Air Products and Chemicals, Corning, Axcelis and Pacifico Energy—declared foreign direct investments totaling $2 billion in semiconductor materials and equipment, advanced display materials and offshore wind power.
The Ministry of Trade and Industry expects cooperation between the two countries in advanced-industry supply chains to deepen as U.S. companies continue investing in Korea, despite the ongoing restructuring of global supply chains and growing trade uncertainty.
Industrial gas company Air Products and Chemicals will expand its semiconductor gas supply facility in Pyeongtaek, Gyeonggi Province. This will be the company’s largest project in Korea since entering the market. It plans to build facilities for ultra-high-purity semiconductor gases and rare gases used in fine-process manufacturing.
Semiconductor ion implantation equipment maker Axcelis will expand its domestic manufacturing facilities. Since 2021, Axcelis has produced ion implanters in Korea—the company’s only production base outside the United States. Through the expansion, it plans to strengthen the site’s role as an export hub supplying equipment not only to the domestic market but also to the Asia-Pacific region.
Corning, an advanced materials company that has invested in Korea since 1973, will also expand its manufacturing capabilities. It plans to add facilities for advanced materials used in next-generation mobile devices and semiconductors.
Renewable energy developer Pacifico Energy will accelerate its project to build a 3.2 GW offshore wind farm in Jeonnam.
Minister Kim Jung-kwan held a roundtable with the companies that declared investments to discuss difficulties encountered during the domestic investment process and ways to expand investment cooperation between Korea and the United States.
Minister Kim said, "The people who will drive the development of industrial cooperation between Korea and the United States are none other than you business leaders. We will actively support Korea so that it can become an attractive investment destination that takes your businesses to the next level, as well as a gateway to global markets."
[email protected] Park Ji-young Reporter