[Cutting-edge Technology] Compounding Semiconductor Cluster Plans in Yongin City, Gyeonggi-do

World’s Largest Semiconductor Cluster Candidate, Yongin City Gyeonggi-do. Would it be an industrial hub?

ⓒSK HYNIX INC.

Surrounding Seoul, Gyeonggi Province is not only home to local specialties like Icheon rice and an extensive range of attractions, it is also the center of the Korean economy. Gyeonggi Province, renowned as a center of global research and innovative businesses, has been developing world-leading and pioneering convergence clusters that are identified by the four techno valleys that serve as their anchors: Pangyo, Gwanggyo, Ansan, and Dongtan. These clusters provide a solid foundation for corporations seeking to invest in a wide array of industries and facilities that include, but are not limited to, information technology, convergence technology, research facilities, and more.

Gyeonggi Province boasts an economically active population of 7.29 million as well as manufacturing infrastructure that includes 68,681 factories. The province is also home to 11,480 small and medium-sized enterprises and accounts for international trade of USD 249.8 billion. Moreover, world-renowned multinationals including Samsung, SK, Hyundai Kia, LG, and SK Hynix represent just a few of the select high-tech Korean companies based in Gyeonggi.

All of these factors and more serve as a solid foundation for the semiconductor companies in the province.

Semiconductors are used in almost all modern electronics

Semiconductors

Semiconductors have specific electrical properties and can be found in almost all modern electronic equipment such as appliances, mobile phones, and other social infrastructure essential for our everyday lives. Especially as 4th industrial revolution absorbs IT materials faster than ever, semiconductors serve an important role in various sectors, from solar technology, self-driving cars, and automated machines to trains and much more.

With the advent of diverse new technologies, industries demand new innovations to facilitate convenience and efficiency in modern life. Thus, the high demand for semiconductors.

Semiconductors have a long history that dates back to the 1900s.  It is undeniable that the advancements in electronic devices that make our lives easier can be credited to the advances in semiconductor electronics.

Gyeonggi-do: A Pioneer in the Semiconductor Industry

Innovation Hub for Youths

With the growing interest of professionals in technological fields, Gyeonggi Province is reaching out to youths and young professionals who are interested in the semiconductor industry. Working with the Nanotechnology Institute, the province launched the Semiconductor Professional Training Project to address unemployment among youth and revive small and medium-sized enterprises(SMEs) in the semiconductor industry.

The project undertook participant recruitment from August to December of 2019, enlisting 20 professionals in the field of semiconductors to train 100 young people as Korea's semiconductor experts. Training consisted of semiconductor equipment operation, design education, measurement analysis, and several other related IoT subjects. After completion of the education, the Gyeonggi Provincial Government and the Korea Nanotechnology Institute supported the employment of these graduates. In this way, continuous support is provided while the transfer of knowledge is realized. This creates a sustainable program for the future of the semiconductor industry in Gyeonggi Province.

Yongin City, Gyeonggi-do: World’s Largest Semiconductor Cluster Candidate

On February 21, 2019, SK Hynix (a Korean company that manufactures semiconductor components) announced that it would invest 120trillion KRW in the construction of four semiconductor production facilities by2022. Undertaken in collaboration with 50 other domestic and overseas sister companies, the area chosen for these new facilities was Yongin City in Gyeonggi-do.

Mega semiconductor industry to be established in Yongin City, Gyeonggi-do

SK Hynix is a global leader in the production of semiconductors including as DRAM and NAND flash as well as System IC including CMOS Image Sensors. As the world’s second-largest manufacturer of memory chip maker, SK Hynix is at the forefront of the IT Industry.

Gyeonggi-do’s commitment

Gyeonggi-do is committed to future development and continues its drive to be a center of higher education, research facilities, and cutting-edge industries not only in Korea, but global. For foreign investors, it features a network of foreign investment zones comprised of 8 complexes with an 80% occupancy rate. These complexes are divided into two categories: complex-type foreign investment zones and foreign investment-exclusive lease complexes.

These zones provide channels through which small businesses and major corporations can access a bustling business environment that facilitates growth and success. Thus, as the center of the Korea and as an economic and industrial hub, Gyeonggi-do is an ideal place for investment and professional growth.