South Korea says US companies to invest US$2 billion in chip, energy sectors

[SEOUL] Four US companies have committed a combined US$2 billion of investment in South Korea across semiconductors, advanced materials and energy, Seoul’s Industry Ministry said on Friday (Sep 4).

The investments were announced during a ceremony attended by Industry Minister Kim Jung Kwan in Washington on Thursday, according to a ministry press release.

US industrial gases supplier Air Products will expand semiconductor gas and rare gas facilities in Pyeongtaek, and chip equipment maker Axcelis will expand production of ion implantation systems in South Korea, the ministry said.

Materials company Corning will invest in advanced glass and other materials used in displays and semiconductors, and renewable energy developer Pacifico Energy will advance a 3.2-gigawatt offshore wind project in the country’s south-west expected to host a new chips cluster, according to the press release. REUTERS