GM, DuPont and 4 US Companies Report KRW 1.5 Trillion Investment in Korea... Annual Effect Over KRW 4.5 Trillion

President Yoon Seok-yeol's Visit to the U.S. Marks Conclusion of Investment Talks

Four U.S. companies, including GM and DuPont, have reported domestic investments totaling 1.5 trillion won.

The Ministry of Trade, Industry and Energy announced that while President Yoon Suk-yeol was visiting the United States to attend the Asia-Pacific Economic Cooperation (APEC) summit, four U.S. companies?GM, DuPont, IMC, and Ecolab?reported investments totaling 1.5 trillion won (approximately 1.16 billion USD). These investments by the four companies are expected to generate export expansion and import substitution effects exceeding 4.5 trillion won annually.

GM’s Senior Vice President Silpan Amin stated on the 15th (local time) during the APEC CEO Summit meeting with President Yoon, "The Korean government’s bold regulatory reforms and institutional improvements aligned with global standards have given us confidence to operate in Korea. Following a 20-year partnership, we will continue to increase production in Korea." The Ministry of Trade, Industry and Energy evaluated that GM’s investment signifies that recent government efforts to improve the investment environment through regulatory reforms and institutional improvements are yielding results in attracting global companies to invest in Korea.

DuPont plans to invest more than 200 billion won (including over 100 new jobs) to expand semiconductor material and component production plants and research and development (R&D) centers in connection with the establishment of the world’s largest semiconductor cluster in Korea. This additional investment is twice the amount reported during President Yoon’s visit to the U.S. in September last year. It is regarded as demonstrating DuPont’s commitment to developing Korea as a key production and R&D hub alongside the United States.

IMC, a subsidiary of the global investment firm Berkshire Hathaway, plans to invest in a tungsten oxide production facility used in semiconductor manufacturing processes or high-strength tool manufacturing. This is the company’s sixth investment project in Korea’s materials and components sector, highlighting Korea’s recognition as an investment hub for materials and components in the Asia-Pacific region.

Ecolab plans to invest in a production facility for high-purity nanoparticles (colloidal silica), essential for producing CMP slurry used in semiconductor manufacturing. This will be the first overseas factory for high-purity nanoparticles.

Minister of Trade, Industry and Energy Bang Moon-kyu said, "This investment will greatly contribute to strengthening the advanced industry alliance between Korea and the U.S. and stabilizing our semiconductor industry supply chain. We will continue efforts to improve the investment environment, including follow-up support for investments and the elimination of killer regulations."

Minister Bang Moon-kyu of the Ministry of Trade, Industry and Energy spoke at the "Investment Attraction Reporting Ceremony" held on the occasion of the APEC Summit on the 15th (local time) at the San Francisco Marriott Marquis Hotel in the United States.

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