Chungnam Attracts $70 Million Investment from UK Semiconductor Vacuum Pump Company

Kim Tae-heum, Governor of Chungnam Province (first from the left), is taking a commemorative photo after signing an investment agreement at the headquarters of Edwards in the UK on the 24th (local time). Provided by Chungnam Province

[Asia Economy (Hongseong) Reporter Jeong Il-woong] Chungnam Province has attracted an investment worth 70 million dollars from Edwards, a UK-based company that is the world leader in vacuum pumps for semiconductor processes.

On the 25th, the province announced that Governor Kim Tae-heum of Chungnam signed a memorandum of understanding regarding this investment on the 24th (local time) at Edwards' headquarters in London.

The agreement centers on Edwards constructing a new factory for integrated vacuum systems and gas treatment equipment for semiconductors on a 39,365㎡ site in the foreign investment zone of Asan Tangjeong Industrial Complex.

The province and Asan City plan to support smooth administrative procedures such as permits until Edwards completes the factory.

Once Edwards builds and fully operates the factory, the province expects effects including sales of 3.3729 trillion KRW, exports of 1.344 trillion KRW, and import substitution of 2.0288 trillion KRW over five years.

Additionally, the province anticipates that more than 70 new jobs will be directly created.

Edwards currently operates in over 30 countries worldwide with about 20 factories. As of the end of last year, it is known to have approximately 13,000 employees and sales of 829.044 million pounds (1.3398 trillion KRW).

Previously, Edwards signed two investment agreements with the province and owns three factories in Cheonan and Asan.

Governor Kim Tae-heum of Chungnam said, “The technology Edwards possesses is cutting-edge technology that will lead the Fourth Industrial Revolution era,” adding, “I hope this agreement will help Edwards solidify its position as a leading company in the industry.”

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