ULSAN < invest Korea

On August 20, Ulsan-si announced that it has attracted a semiconductor material production plant worth KRW 150 billion in Onsan National Industrial Complex.

The city is scheduled to sign an investment agreement with BGFecomaterials for the establishment of Anhydrous Hydrogen Fluoride (AHF) production plant at the City Hall on August 20.

AHF is an essential material for all fluorine-based products that are widely used in semiconductors, secondary batteries, and other industrial products, among others.

Despite its high growth potential and a wide range of applications, its production and supply has been dependent on China.

Under the agreement, BGFecomaterials will invest about KRW 150 billion on the site of Flourine Korea, its subsidiary located in Onsan Industrial Complex, to build a new AHF production plant with the goal of completing it in 2026.

The production capacity of the plant amounts to 50,000 tons per year, accounting for about half of the domestic usage.

The city will continue to provide active administrative support such as rapid licensing, while cooperating with the company for the project to go smoothly as planned.

The city and BGF Ecomaterials will also cooperate in revitalizing the local economy, such as hiring local residents first.

Ulsan's mayor said, "we will strengthen business friendly policies so that more high-tech companies including semiconductor and secondary battery companies can invest in Ulsan."


jjang23@yna.co.kr

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Source: Yonhap News (August 20, 2024)