7 US firms pledge $1.15 billion investment in S. Korea

South Korea received a combined $1.15 billion investment pledge to build plants, R&D centers, and other facilities from seven US semiconductor and secondary battery industry firms.

In the midst of the pandemic and interruptions to the global supply chain, technological collaboration between South Korea and the US has improved thanks to investments made by major US corporations in the domains of secondary batteries and semiconductors.

This investment is expected to support both the development of highly skilled technical workforce and the local transfer of cutting-edge technologies. It is also expected to significantly increase collaboration in South Korea-US supply chains and secure a competitive advantage in the domestic semiconductor industry.

The four biggest manufacturers of semiconductor equipment in the world, including Applied Materials, BorgWarner, and Northland Power, are reportedly actively increasing their investments in South Korea, according to the Ministry of Industry, Trade, and Energy.