Busan, designated as a specialized industrial complex in July 2023, has attracted significant corporate investment, with expected investment volume increasing from 700 billion won to 1.2 trillion won.
BUSAN, Jun. 5 (Korea Bizwire) –In a move toward reducing reliance on imports, South Korea is establishing a semiconductor fabrication plant for 8-inch power semiconductors in Busan. This facility aims to bolster self-sufficiency in a critical industry.
The Ministry of Trade, Industry and Energy announced that EYEQ Lab has begun constructing the new plant within the Busan Power Semiconductor Components and Materials Special District in Jangan-eup, Gijang County.
Power semiconductors are essential for converting and managing electrical power in devices such as automobiles and smartphones. The 8-inch wafers being produced offer nearly twice the productivity of their 6-inch predecessors.
EYEQ Lab is investing 100 billion won to build a facility capable of producing 30,000 8-inch wafers annually. Founded in 2018, EYEQ Lab has experienced rapid growth, with its revenue increasing by a factor of 20 in three years.
The company specializes in silicon carbide (SiC) power semiconductors, a market dominated globally by the U.S. and Germany, with South Korea heavily reliant on imports.
This investment aligns with the government’s “Customized Support Plan for Special Districts for Components and Materials,” aiming to transition EYEQ Lab from a design firm to a comprehensive semiconductor company.
The initiative supports technological self-reliance and local supply chain localization, offering priority infrastructure development and shared testing facilities to designated districts.
Busan, designated as a specialized industrial complex in July 2023, has attracted significant corporate investment, with expected investment volume increasing from 700 billion won to 1.2 trillion won. This surge reflects strong interest from potential investors.
At a meeting in Busan, the Ministry of Trade, Industry and Energy reviewed performance targets and discussed support measures, investment strategies, and ecosystem strengthening.
First Vice Minister Kang Kyungsung emphasized the importance of timely private investment and pledged government support for the development of the Special Districts, including technology development, infrastructure establishment, and regulatory reforms.
Kevin Lee (kevinlee@koreabizwire.com)
