GM·Dupont·IMC·Ecolab report investment of $1.15 billion
Expected annual export expansion and import substitution effect of KRW 4.5 trillion
While President Yoon Seok-yeol visited the United States to attend the Asia-Pacific Economic Cooperation (APEC) summit, he attracted 1.5 trillion won worth of investment from American companies.
The Ministry of Trade, Industry and Energy announced on the 19th that four companies, GM, Dupont, IMC, and Ecolab, reported an investment of $1.16 billion (about KRW 1.5039 trillion).
The investment of these four companies is expected to increase exports and create an import substitution effect of more than 4.5 trillion won per year.
GM Senior Vice Chairman Silfan Amin met with President Yoon on the occasion of the APEC CEO Summit on the 15th (local time) and said, “We decided (to invest) because the Korean government reformed regulations and improved the system in line with global standards.” “We will continue to increase production in Korea based on the partnerships we have built over the past 20 years,” he said.
Dupont is investing more than 200 billion won in expanding its semiconductor materials and components production plant and research and development (R&D) center. In connection with the plan to create the world’s largest semiconductor cluster in Korea, it is planned to hire more than 100 new people. It is twice the investment amount reported by President Yoon after his visit to the United States in September of last year.
IMC, a subsidiary of Berkshire Hathaway, a global investment company, invests in tungsten oxide production facilities used in semiconductor manufacturing processes and high-strength tool manufacturing. Ecolab plans to invest in a high-purity nanoparticle production facility that is essential for producing CMP (chemical mechanical polishing) slurry, an abrasive for semiconductor manufacturing. This is the first time that Ecolab is building a nanoparticle factory overseas.
Minister Bang said, “We expect that this investment will strengthen the ROK-US alliance in the high-tech industry and contribute to stabilizing the supply chain of our semiconductor industry,” adding, “We will make efforts to improve the investment environment by strengthening follow-up support for investments and abolishing killer regulations.” “We will continue,” he said.
[세종=뉴시스]
Source: Donga
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