Incheon City Launches Steering Committee for 'Semiconductor Specialized Complex'... Selection Possible as Early as December

[Asia Economy Reporter Park Hyesook] Incheon City is accelerating efforts to attract the 'Semiconductor Specialized Complex,' which is expected to be selected as early as the end of this year.

On the 26th, the city held the launch ceremony of the 'Incheon Semiconductor Specialized Complex Promotion Committee' at Songdo G Tower. Mayor Yoo Jeong-bok of Incheon serves as the general promotion chairman, while Heo Sik, chairman of the Incheon City Council; Do Seong-hoon, superintendent of Incheon Metropolitan Office of Education; Jo Myung-woo, chairman of the Incheon Presidents Forum; and Shim Jae-sun, chairman of the Incheon Chamber of Commerce and Industry, serve as co-chairmen.

Forty experts from related organizations also joined, including the Korean Microelectronics and Packaging Society, Incheon Semiconductor Forum (industry-academia-research-government network), Sungkyunkwan University, Inha University, Incheon National University, Korea Institute of Industrial Technology Root Technology Research Institute, and LH Incheon Regional Headquarters.

Additionally, the joint heads of the attraction team include Kang Sa-yoon, president of the Korean Microelectronics and Packaging Society and regarded as a top expert in the semiconductor packaging field; Park Deok-soo, Deputy Mayor of Incheon; and Kim Jin-yong, head of the Free Economic Zone Authority. Professor Han Young-shin of Inha University was appointed as deputy head.

The Promotion Committee will support overall activities to attract the semiconductor specialized complex to Incheon, including planning strategies for its attraction.

Semiconductors are essential goods for realizing new growth engine industries such as future-oriented automobiles, health bio, energy, and digital sectors, and will determine the future national competitiveness.

In response to the intensifying competition for semiconductor technology supremacy, the government announced the 'Strategy to Achieve Semiconductor Superpower' in July and, with the enforcement of the 'National Advanced Strategic Industry Act' in August, is promoting the designation of specialized strategic industry complexes.

The Ministry of Trade, Industry and Energy will soon announce the procedures and requirements for designating specialized complexes and plans to designate the semiconductor specialized complex in December or January next year. Once designated as a specialized complex, it will receive government support such as infrastructure development, workforce training, expedited permits and approvals, and tax benefits.

Incheon City plans to attract the semiconductor specialized complex and create a differentiated semiconductor innovation ecosystem in Songdo, Namdong Industrial Complex, and Yeongjong areas, focusing on infrastructure, workforce training, technology, investment attraction, and materials, parts, and equipment companies, actively driving the government's policy to achieve semiconductor superpower status.

Mayor Yoo Jeong-bok said, "The key keyword that will determine the future of Korea's industries is semiconductors, and Incheon is a core region that will play a pivotal role in the strategy to achieve semiconductor superpower status," adding, "We will attract the specialized complex to ensure that Incheon's semiconductors reach a global top level."

Meanwhile, Incheon's semiconductor industry has grown rapidly in recent years. Last year, Incheon's semiconductor exports amounted to $12.2 billion, accounting for 27% of total exports and ranking first among export items.

In particular, Incheon achieved $11.6 billion in system semiconductor exports, about 30% of the national total system semiconductor export amount ($39.76 billion), demonstrating great potential in the system semiconductor sector, which is a weak area for Korea.

This achievement is analyzed to be supported by a semiconductor ecosystem formed by over 1,200 semiconductor-related materials, parts, and equipment companies including Amkor Korea and STATS ChipPAC Korea, ranked 2nd and 3rd globally in the back-end (packaging) field, as well as global semiconductor equipment company Hanmi Semiconductor, the Incheon Free Economic Zone, air logistics, universities, and research institutes.

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