According to Yonhap News,
A local unit of Japan's Fujifilm has completed a color resist production line in South Korea, Seoul's industry ministry said Friday.
Fujifilm Electronics Materials Korea Ltd., the local arm of the Japanese company, held a ceremony marking the completion of the color resist production line in Pyeongtaek, 60 kilometers south of Seoul, according to the Ministry of Trade, Industry and Energy.
Fujifilm holds more than 80 percent of the global market for color resist used in the production of image sensors, a type of semiconductor applied in digital cameras, smartphones and drones.
"As the color resist produced at the factory will all be shipped to South Korean chipmakers, it will make a great contribution to stabilizing the supply chain of the domestic cutting-edge industries," the ministry said in a statement.
The industry ministry and the Korea Trade-Investment Promotion Agency have been making efforts to address hurdles in the construction of the line, including offering tax cuts.
"The Pyeongtaek factory of Fujifilm is an example of the South Korean government offering support throughout the entire process for foreign firms' investment in the country," said Park Duk-ryul, the director general for cross-border investment policy at the ministry.
"The government will bolster its communication with foreign firms and continue offering support," he added.
colin@yna.co.kr
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Source: Yonhap News (June 14, 2024)