Investment Agreement Worth KRW 500 Billion Brighten Future of Gyeonggi Province's Hydrogen Industry

Gyeonggi Province Governor Dong Yeon Kim signed an investment agreement with Linde at Linde’s headquarters in Danbury, Connecticut, on A...

Gyeonggi Province Governor Dong Yeon Kim signed an investment agreement with Linde at Linde’s headquarters in Danbury, Connecticut, on April 12.

Production of Hydrogen for Fuel Cell Vehicles and Industrial Gases

Gyeonggi Province had already signed a KRW 150 billion investment agreement with Linde in January to establish an industrial gas production facility in Pyeongtaek City. Now, let's take a look at the additional KRW 500 billion investment agreement made just three months later.

Linde, the World's Largest Industrial Gas Producer, Signs an Investment Agreement for Hydrogen Business

Gyeonggi Province Governor Dong Yeon Kim, who visited the United States to attract foreign investment amounting to KRW 4.3 trillion and expand opportunities for young people, successfully secured a USD 380 million (KRW 500 billion) investment from the world's largest industrial gas company as well as a comprehensive research institute from a US semiconductor material company.

Under the agreement, Linde will invest USD 380 million (KRW 500 billion) to install charging facilities for large hydrogen vehicles such as buses in Gyeonggi Province. It will also expand the production of industrial gases for semiconductor manufacturing.

Governor Kim said, "Thank you for making additional investments right after the investment in the Pyeongtaek production facility in January. I am confident that Linde's investment will enhance the competitiveness of Korea's semiconductor industry." He added, "I welcome this agreement as it will contribute significantly to the activation of the hydrogen ecosystem and carbon neutrality. We will provide active support."

In response, the Chairman of Linde pledged to cooperate and support Gyeonggi Province in moving towards a low-carbon future.

Investment Agreement Signed for Semiconductor Material Research Center

Following the successful attraction of the Linde Gas investment, Governor Kim reached an agreement for the establishment of a comprehensive research center by Entegris, a U.S. company that specializes in semiconductor materials.

According to the agreement, Entegris plans to establish a comprehensive research center in Suwon City to develop materials and provide process solutions. This investment is the largest of its kind attracted by Gyeonggi Province in the past five years in terms of the number of semiconductor research personnel to be employed.

Founded in 1966, Entegris is a semiconductor solution company with annual sales of about KRW 4.8 trillion (approximately USD 4 billion) that develops and provides core materials and processes for semiconductors, biopharmaceuticals, and other advanced industries. Established in 1990, Entegris Korea operates factories in the cities of Pyeongtaek and Hwaseong in Gyeonggi Province, as well as in Wonju Cioty of Gangwon Province; its total sales amount to KRW 425.3 billion.

Governor Kim's Second Overseas Visit