South Korea’s Industry Ministry confirmed that four U.S. companies have pledged a combined $2 billion to invest in the country’s chip, advanced materials and energy sectors. The commitments were unveiled during a ceremony attended by Industry Minister Kim Jung‑kwan in Washington on Thursday, according to a ministry press release.
Air Products, a U.S. industrial gases supplier, will expand its semiconductor gas and rare‑gas facilities in Pyeongtaek. Chip equipment maker Axcelis will broaden production of ion‑implantation systems in South Korea. Corning, a materials company, will invest in advanced glass and other materials used in displays and semiconductors. Pacifico Energy, a renewable‑energy developer, will advance a 3.2‑gigawatt offshore wind project in the country’s southwest, an area expected to host a new chips cluster.
These investments are part of Seoul’s strategy to strengthen its semiconductor ecosystem and diversify its energy mix. The projects are expected to create jobs and enhance South Korea’s technological capabilities.
Industry officials said the deals will be finalized in the coming months, with the companies beginning construction and procurement soon after. The Ministry of Industry will monitor progress and ensure compliance with local regulations.
