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Businesskorea reported that after South Korean President Yoon Seok-yue visited the United States to attend the Asia-Pacific Economic Cooperation (APEC) summit, four American companies including General Motors (GM) and DuPont have collectively declared a total investment of US$1.16 billion in the Korean market. The investment target industries of these companies include advanced industries such as automobiles and semiconductors.
The government expects investments by these companies will lead to an annual increase in exports of more than 4.5 trillion won ($3.47 billion) and help create an import substitution effect.
General Motors said it will further increase production in South Korea.
DuPont plans to invest more than 200 billion won to establish the world’s largest semiconductor industry cluster in Yongin City, Gyeonggi Province. The investment will be used to expand semiconductor materials and component production facilities and add a research and development (R&D) center, creating more than 100 new jobs. This commitment is double the investment scale announced during President Yun’s visit to the United States in September last year.
IMC, a subsidiary of Berkshire Hathaway, a world-renowned investment company, plans to invest in tungsten oxide production facilities for semiconductor manufacturing processes and high-strength tool production.
Ecolab will invest in facilities to produce high-purity nanoparticles, or colloidal silica, which is critical for making CMP slurries, abrasives used in semiconductor production. This marks the first time in Korea that the company has built a high-purity nanoparticle factory abroad.
(Source: businesskorea Image source: freepik)
