U.S. Companies to Invest Billions in Korea's Chip Industry

Four big U.S. companies will invest a total of W1.5 trillion in Korea, mostly in the semiconductor industry (US$1=W1,297).

The Ministry of Trade, Industry, and Energy on Sunday said General Motors, DuPont, IMC and Ecolab, have pledged investments totaling $1.16 billion.

President Yoon Suk-yeol urged U.S. business leaders to invest in Korea when he met them on the sidelines of the Asia-Pacific Economic Cooperation Summit in San Francisco last week.

GM plans to expand its production facilities here, while chemical materials company DuPont has decided to invest over W200 billion in expanding semiconductor material and component factories as well as research and development centers as Korea builds the world's biggest semiconductor cluster in Yongin, Gyeonggi Province.

Cutting tool company IMC will invest in production facilities for oxidized tungsten used in semiconductor manufacturing processes or high-strength tool manufacturing.

Ecolab will invest in production facilities for high-purity nano particles (colloidal silica), an essential raw material for semiconductor wafer polishing.