Gyeonggi Province Attracts Semiconductor Equipment Research Institute Investment Worth KRW 133 Billion

Gyeonggi Province Governor Dong Yeon Kim embarked on an overseas mission to the United States last week and then to Japan this week. O...

Gyeonggi Province Governor Dong Yeon Kim embarked on an overseas mission to the United States last week and then to Japan this week. On the afternoon of April 17, he succeeded in attracting an investment of KRW 130 billion from ULVAC Group, a Japanese conglomerate that is considered to be one of the world's best in the field of vacuum semiconductor equipment.

The investment is for ULVAC Group's semiconductor manufacturing equipment technology development research institute in Gyeonggi Province.
Gyeonggi Province Governor Dong Yeon Kim visited ULVAC Group's headquarters in Chigasaki City, Kanagawa Prefecture, and signed the Gyeonggi Province-ULVAC Corporation Investment Agreement with President & CEO Iwashita Setsuo for a KRW 133 billion investment over the next five years.

Governor Kim stated that, with the addition of ULVAC's research institute, Gyeonggi Province has become a hub of advanced semiconductor technologies where the research centers of the top 4 semiconductor equipment companies are or will soon be operating.

Korean ULVAC, a subsidiary of the ULVAC Group, will complete the construction of a research institute (floor area of 13,168 square meters) in the Pyeongtaek Foreign Investment Industrial Complex in March of next year with the aim of strengthening the development of semiconductor manufacturing equipment technologies.

This investment by ULVAC has significant meaning as it has set "first" and "largest" records. It marks the first time that local employees at ULVAC's overseas branches will participate directly in technical research. ULVAC operates seven factories in the province and has recognized the excellence of Korean engineers. As a result, ULVAC has decided to directly involve Korean researchers in this research institute. In addition, it will see the creation of more than 150 jobs, the largest number of such jobs among foreign research institutes attracted to Gyeonggi Province over the past five years. The establishment of this research institute is expected to lead to the development of cutting-edge equipment as well as the promotion of domestic production of semiconductor equipment, serving as an opportunity for the growth of partner companies in the province.

Established in 1952, the ULVAC Group produces high-quality semiconductor equipment based on world-class vacuum technology. Korean ULVAC, established in 1995, has invested a total of USD 110 million in its operations in Gyeonggi Province, including 7 equipment manufacturing plants in the cities of Pyeongtaek and Paju as well as an equipment design facility (Bundang Technology Development Center) since 2000.

Meeting the Governor of Kanagawa Prefecture and agreeing on a youth exchange program
While in Japan, Gyeonggi Province Governor Dong Yeon Kim met with Kuroiwa Yuji, the Governor of Kanagawa Prefecture, on April 17 at the Kanagawa Prefectural Office in Yokohama. They discussed cooperation measures in fields such as youth programs, healthcare, sports, and culture for mutual development, promoting cooperation between the two regions.

Governor Kim said, "Gyeonggi Province, as the heart of the South Korean economy, features all industries. Kanagawa Prefecture is renowned as a core of manufacturing and advanced industries, and we want to cooperate closely." He added, "Despite the difficulties in the relationship between South Korea and Japan due to issues such as COVID-19, cooperation between local governments and cultural exchange based on people-to-people relations should be expanded regardless of political situations."

Governor Kim emphasized the "Gyeonggi Youth Ladder Program," which provides opportunities for the education and advancement of young people, and requested support for the development of tailored training programs and exchanges between universities of both regions. He also agreed to expand exchanges such as friendly matches between independent baseball teams of Gyeonggi Province and Kanagawa Prefecture.

Governor Kuroiwa Yuji actively agreed and explained the projects he is promoting, and Governor Kim also agreed on an MOU on projects regarding ‘small sickness,’ a condition in which one is not yet ill but is at risk or experiences uncomfortable symptoms without any disease.

Kanagawa Prefecture, with a population of 9.23 million, is the second most populous area in Japan after Tokyo and a center of the Japanese economy. With many similarities to Gyeonggi Province in terms of geography and economy, Kanagawa has developed in the fields of petroleum, electrical products, chemicals, and intermediate chemicals and is a hub for maritime, land, and air transport.

Review of Governor Dong Yeon Kim Overseas Visit Article 4
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