SEOUL, September 05 (AJP) - Four U.S. companies have pledged a combined $2 billion investment in South Korea spanning semiconductors, advanced display materials and offshore wind, the Ministry of Trade, Industry and Resources said.
The commitments were announced in Washington, D.C., on Thursday as Seoul seeks to deepen investment and supply-chain ties with the United States amid heightened uncertainty over global trade and industrial policy.
The participating companies are industrial gas supplier Air Products, semiconductor equipment maker Axcelis Technologies, glass and advanced materials producer Corning and renewable-energy developer Pacifico Energy.
Air Products will expand semiconductor gas supply facilities in Pyeongtaek, Gyeonggi Province, one of South Korea's largest chipmaking hubs.
The additional capacity is expected to support semiconductor manufacturing as Korean chipmakers continue to expand advanced production lines.
Axcelis will increase its manufacturing capacity for ion implantation equipment in South Korea. The U.S. company has been producing ion implanters in the country since 2021.
Ion implantation is a key semiconductor manufacturing process used to introduce controlled amounts of impurities into silicon wafers to alter their electrical properties.
Corning plans to strengthen its manufacturing capabilities and continue expanding its Korean operations, according to the ministry.
The company has invested in South Korea since 1973 and has built a longstanding presence supplying materials used in the country's display and technology industries.
Pacifico Energy, meanwhile, plans to push ahead with a 3.2-gigawatt offshore wind power project in the Jeonnam-Gwangju region. The project represents the renewable-energy portion of the investment package and would add significant generation capacity if completed as planned.
The ministry did not disclose how the combined $2 billion investment would be divided among the four companies.
Seoul described the commitments as evidence that bilateral investment remains resilient despite an increasingly uncertain economic and trade environment.
The projects are also expected to strengthen Korea-U.S. cooperation in advanced industrial supply chains, particularly in semiconductors and other strategic industries.
The latest commitments add to a broader two-way investment push between the allies, with Korean companies expanding manufacturing capacity in the United States while U.S. businesses continue to invest in Korea's technology and energy sectors.
AJP Takeaways:
- Air Products, Axcelis, Corning and Pacifico Energy plan a combined $2 billion investment in South Korea.
- Projects span semiconductor gases and equipment, advanced display materials and a 3.2-gigawatt offshore wind development.
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