Chungnam Attracts Investment from Global Industrial Gas and Semiconductor Material Companies

by Jeong Ilwoong

Published 19 Apr.2023 14:19(KST)

Chungnam Province has attracted investments from a global industrial gas company and a semiconductor-related equipment manufacturing company.

On the 18th (local time), Governor Kim Tae-heum of Chungnam Province, Sanjiv Lamba, Chairman of Linde, an industrial gas company, Sung Baek-seok, Chairman of Linde Korea, and Jo Il-gyo, Vice Mayor of Asan City, met in Connecticut, USA, and signed a memorandum of understanding (MOU) for investment.

According to the investment MOU, Linde will expand its industrial gas production plant for displays on a 10,000㎡ site in the Asan Tangjeong Individual Foreign Investment Zone. To this end, Linde plans to invest $100 million in Asan within five years.

Linde, established in 1879, is the world's largest industrial gas and engineering company, currently operating production facilities in over 100 countries.

As of last year, the company employs approximately 65,000 people and has recorded sales of $33.4 billion.

Governor Kim also signed an investment MOU with John Sirman, Vice President of the Electronics Materials Division at Praxair Surface Technologies (PST), along with Shin Dong-heon, Vice Mayor of Cheonan City, in New York on the same day.

Following the MOU, PST plans to expand its production plant on a 4,995㎡ site in the Cheonan Foreign Investment Zone.

Additionally, PST will establish a long-term investment strategy (over $10 million) and commit to increasing local employment and revitalizing the regional economy.

Founded in 1904, PST is a semiconductor-related materials and equipment company recognized as a global leader in surface technology and material solutions.

Currently, it operates 31 factories in 11 countries worldwide.

The province, Asan City, and Cheonan City have agreed to actively support administrative procedures such as permits to ensure smooth progress of investments by Linde and PST.