Pyeongtaek City (Mayor Jeong Jang-seon) announced on the 29th that it held an ‘Investment Attraction Event Inviting Foreign Investment Companies in the Semiconductor Specialty Complex‘ by inviting 11 foreign semiconductor companies and local semiconductor material, component, and equipment companies.
This event was hosted by the Ministry of Trade, Industry and Energy and KITIA (Korea Materials, Components and Equipment Investment Institutions Association). At this event, Pyeongtaek City introduced the local semiconductor industry investment environment and established business networking between domestic and foreign companies.
Foreign semiconductor companies that visited Pyeongtaek include Japan, including Ibiden Graphite, which has the world’s largest market share in semiconductor packaging substrate (FC-BGA) development, and Multiprojekt, which has semiconductor equipment parts manufacturing and automation solutions. Among 11 semiconductor companies from Poland and the United States. The companies paid attention to the investment conditions in Korea’s semiconductor industry and visited Korea to exchange with promising semiconductor manufacturing companies.
In the first part of the event, the foreign company visiting Korea toured the Korea Albak Technology Center and Samsung Electronics Pyeongtaek Campus, and then visited the Brain City Industrial Complex, a suitable investment site for high-tech industries, with Pyeongtaek City officials. During the tour, the city introduced the effectiveness of creating an industrial ecosystem in Pyeongtaek City through integration of semiconductor companies.
In the second part of the event, the ‘2024 Semiconductor Specialized Complex Investment Cooperation IR’ program was held at the JNJ Art Convention Center with the participation of foreign companies visiting Korea and local semiconductor material department heads. Domestic material, component, and equipment companies and foreign visiting groups in the semiconductor specialized complex introduced each other’s technologies and products, and communication was established to attract domestic investment, such as future technological collaboration and joint ventures.
The foreign company visiting Korea that participated in this event said, “After visiting Pyeongtaek City, where the largest semiconductor production facility in Korea is located, interest in investment increased. “We want to pursue specific discussions,” he said.
Mayor Jeong Jang-seon said, “Through this event, we were able to introduce Pyeongtaek’s semiconductor industry infrastructure and growth potential to overseas companies.” He added, “Pyeongtaek City will continue to provide generous support to overseas companies to help them successfully settle in and become a global semiconductor company.” “We look forward to becoming a city that continues to grow through cooperation with the city.”
Economy Queen Reporter Kim Hong-mi / Photo Pyeongtaek City
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Interview Between Time.news Editor and Semiconductor Expert
Editor: Good afternoon! Thank you for joining us today. We’re excited to discuss the recent investment attraction event held in Pyeongtaek City focused on the semiconductor industry. Can you share your thoughts on the significance of this event for South Korea’s semiconductor landscape?
Expert: Good afternoon! It’s a pleasure to be here. The investment attraction event in Pyeongtaek is particularly significant as South Korea seeks to solidify its position as a global leader in semiconductor manufacturing. By inviting 11 foreign semiconductor companies, the event not only highlights the country’s commitment to foreign investment but also emphasizes its role as a hub for innovation in semiconductor technologies.
Editor: Absolutely. It’s fascinating to see such a diverse representation from countries like Japan, Poland, and the United States. What do you think draws these foreign companies to invest in South Korea’s semiconductor sector?
Expert: Several factors are at play here. Firstly, South Korea boasts a robust infrastructure and a highly skilled workforce dedicated to high-tech industries. Additionally, the government actively supports the semiconductor sector through favorable policies and incentives. For instance, the investment conditions presented during the event were carefully tailored to showcase the advantages of setting up operations in Pyeongtaek, including access to nearby industry giants like Samsung Electronics.
Editor: Speaking of Samsung, the event included tours of their facilities. How important are these practical engagements in attracting foreign investors?
Expert: Very important. On-the-ground tours enable potential investors to visualize their prospective operations and gauge the local ecosystem’s vibrancy. Experiencing the technology centers and industrial complexes firsthand helps build trust and rapport between foreign investors and local companies. It’s a vital step in fostering collaboration and encouraging long-term investments.
Editor: The idea of creating an industrial ecosystem is intriguing. Can you elaborate on how Pyeongtaek is aiming to achieve this integration of semiconductor companies?
Expert: Pyeongtaek City’s plan involves not just attracting individual companies but creating a synergistic environment where innovation can flourish. By promoting collaboration among various semiconductor-related enterprises, from materials and components to equipment manufacturing, they can streamline processes, share resources, and ultimately, enhance competitive advantage. This kind of integration is pivotal for driving advancements in technology and efficiency.
Editor: The event included a program called the ‘2024 Semiconductor Specialized Complex Investment Cooperation IR.’ What is the significance of fostering communication between domestic material, component, and equipment companies and their foreign counterparts?
Expert: Communication is key in the semiconductor field where cutting-edge technology is always advancing. By introducing domestic companies to foreign investors, both sides can share insights into emerging technologies, market trends, and innovation strategies. This exchange can lead to joint ventures, partnerships, and the development of new products that can benefit the global market. It’s a win-win scenario that could potentially elevate South Korea’s semiconductor prominence on the world stage.
Editor: As we see more foreign involvement in South Korea’s semiconductor sector, what challenges do you think the industry might face moving forward?
Expert: While the prospects are promising, challenges such as global supply chain disruptions, competition from other nations, and the need for continuous innovation remain. The increasing demand for semiconductor components, spurred by advancements in AI, IoT, and 5G, requires South Korea to be agile and proactive. Additionally, they must ensure that they can retain talent and support smaller startups in the semiconductor ecosystem.
Editor: Thank you for such valuable insights! Clearly, the investment event in Pyeongtaek is a step towards a brighter future for the semiconductor industry in South Korea. We look forward to seeing how these developments unfold.
Expert: Thank you for having me! I’m equally eager to see how South Korea continues to leverage these opportunities moving forward.