BUSAN < invest Korea

According to Yonhap News,

STI will invest KRW 300 billion in building a power semiconductor material production facilities in Busan.

The Busan Metropolitan Government announced that it will sign a memorandum of understanding (MOU) with STI on the establishment of power semiconductor material production facilities on August 22.

STI, headquartered in Daegu, plans to invest KRW 300 billion by 2026 to build the production facilities for power semiconductor materials (Ingot growing, Wafer) on a site of 40,000 pyeong (about 132,000㎡) in the Southerneast Area Radiological & Medical Sciences Industrial Complex in Gijang-gun, Busan.

STI also plans to hire 250 employees gradually.

Busan-si is to provide necessary administrative support.

Busan-si is pushing for government-supported projects and policies to build infrastructure, test beds, research and development (R&D), and human resources to create a high-performance compound power semiconductor ecosystem at the Southerneast Area Radiological & Medical Sciences Industrial Complex since the designation as a specialized complex for power semiconductor by the Ministry of Trade, Industry, Energy (MOTIE) in July this year.

Busan Mayor said, "we will do our best to complete domestic supply channels by localizing materials (wafer), a weak point in the domestic power semiconductor industry and turn Busan into a base for production of power semiconductors in Korea."


youngkyu@yna.co.kr

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Source: Yonhap News (August 22, 2023)