CHUNGCHEONGBUK-DO < invest Korea

According to Yonhap News,

On October 10, Chungbuk-do announced that it has established 12 mid- to long-term projects to be promoted by 2031 to foster the semiconductor industry, the region's main industry.

First of all, it will create an "advanced memory fab complex" centering around SK Hynix, a leading semiconductor company in the province, as a way to strengthen global competitiveness in the advanced memory semiconductor field.

Based on the semiconductor special gas industry base in the province, it will also create one of the nation's leading "semiconductor gas specializing cluster" by attracting investment from related companies and establishing a semiconductor gas performance evaluation center.

With regard to the post-semiconductor process, it will build a "comprehensive support base for semiconductor packaging and testing" and go ahead with plan to be designated as an advanced strategic industrial complex specialized in semiconductor packaging, following the designation as advanced strategic industrial complex in secondary battery this year.

It also devised a strategy on compound semiconductor, which is in increasing demand, driven by the expansion of the electric vehicle market.

The province plans to create a "compound semiconductor specialized industrial complex" that integrates leading companies in the compound semiconductor field such as DB HiTek and Power Master Semiconductor in the province, companies in the related materials, parts and equipment fields, and next-generation power semiconductor demonstration centers.

Regarding future semiconductors, in which the province's competitiveness is relatively weak, it will create an "AI semiconductor application industry convergece complex" connecting technology transfer and business establishment support, in addition to an "AI system semiconductor convergence research center" project currently being pursued.

In addition, the province will work with the Korea Electronics Technology Institute to promote the "Advanced Semiconductor Leading Technology Development Project", while endeavor to create an R&D base for advanced sensor semiconductor, attract the Korea Advanced Semiconductor Technology Center, and enhance the competitiveness of semiconductor companies going global.

Besides, the province plans to actively support SK Hynix, which is considering the installation of additional HBM (High Bandwidth Memory) production lines in Cheongju.

HBM is the first high-speed memory semiconductor developed by SK Hynix in 2013. Currently, SK Hynix is ranked the 1st in the global market share of HBM, which is expected to experience explosive demand in line with the growth of the AI market.

Accordingly, the province plans to set up a task force (TF) in charge of supporting SK Hynix, including prompt licensing and permission, as well as such infrastructure as power and industrial water supply, which are required for the operation of factories.

An official from the provincial office said, "we will strive to make all-out efforts to establish a cooperative system with companies and attract large-scale investments, while attracting large-scale government support so that Chungbuk can continue to play a key role in the Korean semiconductor industry."

jeonch@yna.co.kr

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Source: Yonhap News (Oct. 10, 2023)