'SoBuJang Small Giant' YMT to Establish Research Institute in Songdo, Incheon by 2024

Lee Won-jae, head of the Incheon Free Economic Zone Authority (fourth from the left), and Jeon Seong-wook, CEO of YMT, are taking a commemorative photo with officials after signing the land sale contract on the 21st.
[Photo by Incheon Free Economic Zone Authority]

[Asia Economy Reporter Park Hyesook] The Incheon Free Economic Zone Authority signed a land sale contract with YMT on the 21st at G Tower in Songdo International City to establish a research institute.

This follows the conclusion of negotiations with YMT, which was selected as the preferred negotiator in June through a public offering to attract leading companies' research institutes to the industrial and research facility site in Songdo International City.

YMT plans to invest a total of 48.6 billion KRW to build a research institute on a 10,000㎡ site within the Songdo Advanced Industrial Cluster, with construction starting next year and completion scheduled for 2024.

At this site, research and development will be conducted on electronic component chemical materials and bio-research using copper fabric.

YMT is a KOSDAQ-listed company specializing in the development of PCB surface treatment chemical materials essential for mobile phones and tablets. YMT's products are ultimately applied to mobile phones and tablets from Apple and Samsung, as well as electric vehicles from Tesla in the U.S. and BYD in China.

The company is known for its outstanding technological capabilities, having succeeded in domestic production through continuous R&D in the gold plating and copper plating technology market, which is monopolized by Japanese and German companies.

It is also the world's first company to produce ultra-thin copper foil using an electroless plating method. Recognizing this technological prowess, it was selected last year by the Ministry of SMEs and Startups as one of the 'Top 100 Small and Medium Enterprises in Materials, Parts, and Equipment (SoBuJang)'.

Due to the diverse application fields of electronic component chemical materials, YMT is establishing a research institute in Songdo to expand its business areas into advanced materials and bio sectors, including electronic materials (ultra-thin copper foil), 5G-related chemical materials, and antibacterial masks and composite wound dressings made from 100% copper fabric.

Jeon Seongwook, CEO of YMT, stated, "With the establishment of the Songdo research institute, we will strive to secure world-class technology in the domestic chemical materials market, where advanced countries still hold a high market share."

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