Chungnam Attracts 5 Overseas Companies to Cheonan and Asan... Capacity to Respond to Japanese Export Restrictions

On the 15th, at Chungnam Provincial Office, Chungnam Governor Yang Seung-jo, representatives of five global companies, and the mayors (or vice mayors) of Cheonan, Asan, and Gongju posed for a commemorative photo after signing an investment agreement. Provided by Chungnam Province

[Asia Economy (Hongseong) Reporter Jeong Il-woong] Chungnam Province has attracted $100 million in foreign investment from five companies across five countries. Notably, among the companies attracted, three are in the semiconductor sector equipped to respond to export regulations imposed by the Japanese government.

On the 15th, Chungnam Province announced that Governor Yang Seung-jo, representatives of five global companies, and the mayors (or vice mayors) of Cheonan, Asan, and Gongju gathered at the Chungnam Provincial Office to sign investment agreements.

The companies participating in the agreement are ▲ U.S. Rohm and Haas Electronic Materials Korea ▲ France Mersen Korea ▲ Luxembourg Rotarex Korea ▲ Germany Amacell Gios Aerosols ▲ Taiwan Woongjin Foods.

These companies plan to invest $103.5 million over the next five years in the Cheonan Foreign Investment Zone, Cheonan 5 Foreign Investment Zone, Gongju Yugu Agricultural and Industrial Complex, and Asan Tangjeong General Industrial Complex to build new and expand existing research and production facilities.

Among them, Rohm and Haas Electronic Materials Korea, a subsidiary of DuPont, one of the world's largest chemical companies, will establish a semiconductor advanced materials research and development facility within the existing factories in the Cheonan Foreign Investment Zone and the 3rd Industrial Complex. The investment amount is $30 million.

The company plans to research advanced EUV photoresists, CMP pads, and packaging materials for semiconductors at the newly established R&D facility and is expected to hire 32 research personnel over five years.

The province expects that once Rohm and Haas Electronic Materials Korea's R&D facility is fully operational, it will contribute to the localization of semiconductor materials and stabilize domestic supply.

Mersen Korea will invest $9.5 million to expand production facilities and increase equipment in the Cheonan Foreign Investment Zone to meet the growing demand for graphite used in semiconductors.

Rotarex Korea will invest $9 million to build a new factory on a 12,609㎡ site within the Asan Tangjeong General Industrial Complex to produce components for high-purity gases used in semiconductors.

This company, headquartered in Luxembourg, is the world's number one manufacturer of special gas valves for cylinders, and this is the first time a Luxembourg company has established a presence in Chungnam.

The province anticipates that the expansion of regional infrastructure by these semiconductor-related companies will effectively respond to the Japanese government's export regulations on core semiconductor and display materials.

Additionally, Amacell Gios Aerosols plans to produce aerogel blankets, a next-generation ultra-insulating and ultra-lightweight insulation material, in the Cheonan 5 Foreign Investment Zone to meet overseas demand. The investment amount is $30 million.

Woongjin Foods plans to expand its production factory and facilities on a 50,000㎡ site within the Yugu Agricultural and Industrial Complex to improve product manufacturing and logistics efficiency at its current plant. This company is a leading Taiwanese food company, Uni-President, which acquired a 74.7% stake in February 2019. The planned investment amount under this agreement is $25 million.

The province expects that if the investments by each company proceed as planned, there will be a sales increase of approximately KRW 1.9161 trillion, an export effect of KRW 195 billion, and 242 new jobs created over the next five years.

Governor Yang Seung-jo of Chungnam Province said, “This July marks two years since the Japanese government's export regulations began, and it is meaningful to attract investments from three semiconductor-related companies among other global leading companies. The province will spare no support to ensure that all five companies grow and coexist in Chungnam.”

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