(image: Korea Bizwire)
SEOUL, Feb. 2 (Korea Bizwire) — South Korea’s industry ministry said Thursday it agreed with Dutch semiconductor equipment supplier ASM to boost cooperation for the firm’s planned investment of US$100 million to build a production factory and a research and development center in South Korea.
The two sides signed a memorandum of understanding (MOU) in Seoul on the day, which calls for joint work for the smooth implementation of the corporate investment worth $100 million through 2025, according to the Ministry of Trade, Industry and Energy.
The company is reviewing building a second factory that produces equipment for atomic layer deposition, a key process in chips manufacturing, and the expansion of its R&D center in South Korea.
Currently, ASM is headquartered in the city of Hwaseong, Gyeonggi Province, some 40 kilometers south of Seoul.
In October, ASM announced a plan to invest $100 million in South Korea, but the amount has surged “as discussions between the two sides have developed,” a ministry official said.
Following the MOU signing ceremony, Industry Minister Lee Chang-yang and ASM CEO Benjamin Loh held a meeting for discussions on the envisioned expansion of bilateral cooperation.
“The investment is expected to help South Korea better ensure stable supply chains of the sector and boost exports,” the ministry said in a release. “The government will actively extend support, such as providing incentives and resolving difficulties.”
(Yonhap)
