Four US companies have committed a combined $2 billion of investment in South Korea across semiconductors, advanced materials and energy sectors, according to Seoul's Industry Ministry. The investments were announced during a ceremony attended by Industry Minister Kim Jung-kwan in Washington on Thursday, as reported by the ministry press release. Latest reports confirm the investment total at 2.8 trillion won ($2 billion) across the three key sectors. South Korea's Ministry of Trade, Industry and Energy and the Korea Trade-Investment Promotion Agency (KOTRA) announced Thursday that they held an "Investment Declaration Ceremony and Investor Roundtable" in Washington, D.C., receiving investment pledges totaling 2.7 trillion won ($2 billion) from four US companies. The commitments strengthen South Korea's efforts to attract foreign investment and deepen economic cooperation with the United States, as reported by Reuters.
US industrial gases supplier Air Products will build dedicated infrastructure to supply ultra-high-purity gases and rare gases for next-generation semiconductor production sites in Pyeongtaek, while chip equipment maker Axcelis Technologies will expand production capacity at its existing manufacturing facility and add research and development, prototyping and technical training functions. These investments are part of the broader semiconductor infrastructure development in the country, supporting the growing demand for advanced semiconductor manufacturing capabilities. Axcelis plans to transform its Korean production base from a simple manufacturing site into a hub with full R&D capabilities, as South Korea is the only country outside the United States where the company produces ion implantation systems. The announcements were made as Seoul and Washington continue to strengthen economic ties and cooperation in key technology and energy sectors.
Materials company Corning will invest in applying next-generation process technology at its production facility in Asan, South Chungcheong Province, building on its investment in domestic production and R&D facilities across advanced materials since entering the South Korean market in 1973. The company will invest in advanced glass and other materials used in display panels and semiconductors, according to the ministry. Renewable energy developer Pacifico Energy will continue investing in an offshore wind project in waters off Jindo, South Jeolla Province, developing a 3.2GW offshore wind cluster comprising three projects: Myeongnyang (420MW), Manho (990MW) and Jindobaram (1.8GW). The Myeongnyang offshore wind project received a power generation license from the Ministry of Trade, Industry and Energy last year, with the government expecting the clean energy investment to help expand the power supply base needed for AI data centers and advanced manufacturing facilities. The project is expected to support the development of a new semiconductor cluster in the region.
KOTRA President Kang Kyung-sung emphasized that the investment "carries great significance as it is directly tied to the semiconductor, AI data center and physical AI sectors — the core of the government's three mega projects for South Korea's great leap forward." He added that attracting advanced-industry investment would "strengthen the domestic semiconductor materials and equipment supply chain, expand clean energy supply for AI data centers, and contribute not only to the development of the domestic industrial ecosystem but also to strengthening advanced-industry supply chain cooperation between South Korea and the United States." The government expects the investment to expand domestic advanced-industry supply chains in areas including semiconductor materials and equipment and clean energy, while deepening industrial cooperation between the two countries. The investment commitments come as South Korea seeks to attract greater foreign investment in strategic industries, particularly semiconductors and advanced manufacturing.
