Gyeonggi Province and Paju City have attracted a $1.126 billion (1.2 trillion won) investment from ASE Group, a leading semiconductor assembly and test solution company based in Taiwan.
Governor of Gyeonggi Province Kim Mun-su, Paju Mayor Lee In-jae, ASE Group CEO Tien Wu and ASE Korea President Bae Ung and others are scheduled to sign an investment MOU today at ASE Korea in Paju's Munbal Industrial Complex.
ASE Korea will invest a total of 1.2 trillion KRW to expand production lines on its 22,000 square meter-factory site by 2020. It will spend 600 billion won to build the first-phase production lines by 2016. Construction is set to begin in 2014.
Both Gyeonggi Province and Paju City expect the investment to lead to economic benefits including an annual increase of 760 billion KRW in exports, the creation of 1,800 jobs and the introduction of advanced technology.
"The recent investment will boost the regional economy as well as create jobs," said Lee Ju-hyeon, a Paju official. "We will provide all possible supports, such as the designation of foreign investment zone on an individual business basis, to facilitate investment."
ASE Korea, which established production lines in 1999 within the 97,000 square meter-Munbal Industrial Complex, supplies semiconductor manufacturing machines. With annual sales of 600 billion won, it has 2,500 employees. Its parent company ASE Global has subsidiaries in Japan, China, the United States and Belgium.
Source: Yonhap News (Feb. 14, 2012)