Invest KOREA

KOTRA dispatches a survey team for semiconductor investment to Texas, U.S.

A semiconductor survey team is sent to the city of Austin, Tyler, and Kyle, Texas on Mar. 27
KOTRA seeks business opportunities for domestic corporations amid restructure of the global value chain ... having seminars, conferences, and inspections

KOTRA (President Yu Jeong-yeol) sent a semiconductor research group (research group) on Mar. 28 to the state of Texas, which is a rising chip investment destination in the US, by collaborating with the Texas government and the KSIA (Chairman Kwak Noh-jung).

As the US government is significantly committed to attracting investment on US chip makers, there is a growing need for domestic businesses to have a deeper understanding of the recent developments.

The survey team is formed to make sure Korean businesses smoothly enter the US chip market while navigating changes in the US semiconductor industry.

The research group consists of 10 Korean companies in the chip sector (chip equipments, components, manufacturing equipments).

KOTRA provided insights for Korean corporations' entry into the US chip market and promoted interaction with Texas officials by △ hosting a seminar and conference on chip investment in Texas on Mar. 28 at the hotel Hyatt Regency Austin, △ offering counselling to domestic companies operating business in the US market and touring their facilities on 29, △ carrying out inspections in potential areas for investment.

Officials from the Texas Department of Economic Development at the seminar on 28 provided general information on the investment landscape.

Major consulting firms such as the law firm Nelson Mullins, accounting and tax company LEK Partners and real estate entity Savills also delivered information on legal, accounting, workforce and real estate.

A series of one-to-one investment counselling between Texas government officials, consulting firms, and participants followed.

"A successful entry in the US market demands accurate information and a close cooperation with local officials," and "KOTRA will continue to provide various services, including opening the GP center in Austin, Texas in the next month to ensure Korean companies are able to seamlessly enter and establish in the US market." said Park Sung-ho, head of KOTRA's North American office.

* Austin GP Center is designed to support Korean SMEs in the semiconductor industry which are eyeing the US market by providing offices, consulting service, and marketing plans.



Source : Invest KOREA (2023.03.29)