Gyeonggi Urban Corporation to Focus on Nurturing 20 System Semiconductor 'Fabless' Companies

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Urban Innovation Corporation is set to actively support fabless companies specializing in system semiconductors (non-memory semiconductors).

On the 29th, Gyeonggi Urban Innovation Corporation announced the opening of the System Semiconductor Design Support Center within the Gyeonggi Business Growth Center at Pangyo 2nd Techno Valley to discover promising domestic fabless companies and support them from startup to growth.

The opening of this support center follows up on the system semiconductor development strategy announced by President Moon Jae-in in April last year. Gyeonggi Urban Innovation Corporation plans to invest 6 billion KRW annually to select 20 fabless companies by next year.

Earlier in May, Gyeonggi Urban Innovation Corporation signed a business agreement with the Korea Semiconductor Industry Association to successfully establish and operate the support center.

The support center is set up on the first floor of the Gyeonggi Business Growth Center, covering an area of 210 pyeong.

Lee Heon-wook, President of Gyeonggi Urban Innovation Corporation, said, "As this is a next-generation intelligent semiconductor technology development project promoted in Pangyo 2nd Techno Valley, the center of South Korea's innovative startup ecosystem, expectations are high. Gyeonggi Urban Innovation Corporation will also prepare generous support measures and work closely with related organizations."

Gyeonggi Urban Innovation Corporation plans to link this with the semiconductor technology independence project underway in Gyeonggi Province to establish the system semiconductor sector as a next-generation growth engine and contribute to the development of the Gyeonggi regional economy and job creation.

This content was produced with the assistance of AI translation services.