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Incheon International Airport Corporation (IIAC) announced on 26th that it has signed a memorandum of understanding with STATS ChipPAC Korea (SCK).
SCK, a semiconductor chip maker, will invest KRW 250 billion to build a semiconductor manufacturing facility and a global R&D center in the Incheon Free Economic Zone (FEZ) to be completed by August 2015.
Currently located at SK Hynix Headquarters in Icheon, Gyeonggi Province with 2,500 employees, SCK’s annual sales reach KRW 700 billion and the company specializes in semiconductor packaging and testing.
It will be the first manufacturing company to move in to the Incheon FEZ since its designation in 2005.
The IIAC expects SCK, which will be moving its manufacturing facilities near Incheon International Airport, to enhance its competitiveness with reduced logistics costs and contribute to the regional economy.
Source: Yonhap News (May 26, 2013)
** This article was translated from the Korean.