Gyeonggi Province Attracts Investment from ‘European Hidden Champion’ Heraeus for its Semiconductor Industry Mecca

Gyeonggi Province Governor Dong Yeon Kim has personally led efforts to attract investment from Heraeus Electro-Nite, a European hidden c...

Gyeonggi Province Governor Dong Yeon Kim has personally led efforts to attract investment from Heraeus Electro-Nite, a European hidden champion (a company with world-class competitiveness that is not well known to the public).

On March 29, Governor Kim met with Heraeus Electro-Nite CEO Martin Ackermann, who visited Korea to meet with domestic clients, at the Gyeonggi Provincial Government Complex in Suwon City and requested an expansion of investment in the province. He also expressed his willingness to actively support collaboration with small and medium-sized enterprises in the province to facilitate business management.

Heraeus Electro-Nite, as a subsidiary of Heraeus Group (a global leader in the industrial sensor sector), is reportedly considering the expansion of its manufacturing facilities in Pyeongtaek City. Through this consultation, Governor Kim requested that Heraeus Group invest more in the advanced technologies of Gyeonggi Province, and also explained the province's active efforts to attract investment.

Governor Kim said, "Heraeus Group is a well-established global company, and we are grateful that they have long been investing and building relationships with small and medium-sized enterprises in Gyeonggi Province." He added, "We expect that we will be able to achieve a great synergy effect by combining the dynamism of Gyeonggi Province and Pyeongtaek City. Gyeonggi Province will provide all possible support to the company."

He continued, "I have been encouraging innovation in provincial administration and work methods since taking office. I believe we will be good partners with the common theme of innovation…. Plus, I promised to make Gyeonggi Province a startup paradise as I am also interested in startups. I look forward to having the opportunity to work together."

In response, CEO Martin Ackermann said, "Heraeus is a company that is interested in the recycling and low-carbon industries, and has been showing continuous growth in various fields and expanding globally… We hope to continue our investment and growth in the industrial sensor and measurement market. We look forward to Gyeonggi Province's active support."

He also invited Governor Kim to the company's headquarters in Germany for additional discussions on cooperation when Governor Kim next visits Europe.

Belgium's Heraeus Electro-Nite, a subsidiary company that produces industrial sensors used in industries such as steel and semiconductors, recorded sales of EUR 518 million (approximately KRW 620 billion) in 2021; it has 30 subsidiaries in 25 countries and 4,000 employees.

Since its establishment in Korea in 1980, Heraeus Electronics Korea has been a leading player in the steel industry sensor and measurement market, and is recognized for its quality by major companies such as POSCO. In addition, the company has worked to create a domestic ecosystem for the industrial sensor sector by collaborating with 68 small and medium-sized enterprises in Gyeonggi Province for innovative sensor manufacturing.

Heraeus Group
The German parent of Heraeus Electronics, Heraeus Group, is renowned worldwide and boasts a 363-year history. An innovative operation with technology leadership in the fields of environment, electronics, health, and industrial applications, it is listed among Fortune's Global 500 companies and is also well known as a "hidden champion" in Germany.

About Pyeongtaek City, Gyeonggi Province

Gyeonggi Province’s Pyeongtaek City is home to Samsung Electronics' semiconductor production complex in Godeok-dong, the largest of its kind in the world. In addition, a specialized industrial complex for semiconductor materials, components, and equipment is slated for construction by 2025.

The Gyeonggi Free Economic Zone is also located in the city adjacent to Pyeongtaek Port.

Positioned as an important city for the ‘Korean semiconductor strategy,’ Pyeongtaek is expected to soon have world-class advanced industrial infrastructure.

For those who are interested in Korea and for the convenience of foreigners, Gyeonggi Province publishes blog articles on various topics every week. For more information on various topics related to Korea, check out Gyeonggi Province's blog!