US Provides SK Siltron with 720 Billion Won Loan for "Semiconductor Production Increase"

The U.S. administration under Joe Biden will support SK Siltron's investment needed to expand semiconductor production in the United States in the form of a loan.

On the 22nd (local time), the Loan Programs Office (LPO) under the U.S. Department of Energy approved a conditional loan of $544 million (approximately 720 billion KRW) to SK Siltron CSS.

SK Siltron CSS, SK Siltron's U.S. subsidiary, plans to expand the production of silicon carbide (SiC) wafers in the United States through this loan program. SiC is a key next-generation power semiconductor material used in electric vehicles and energy storage systems (ESS).

The Department of Energy also stated that this loan project will help expand the supply of high-quality SiC wafers by SK Siltron CSS. Although demand for high-quality SiC wafers is expected to increase due to rising electric vehicle sales, supply remains insufficient.

Through this project, a total of 450 jobs are expected to be created, including up to 200 advanced and skilled positions at the Bay City plant.

The Department of Energy said, "The Bay City facility is expected to become one of the world's top five SiC wafer manufacturing sites," adding, "This will strengthen U.S. manufacturing competitiveness in future clean energy technology sectors and expand global leadership."

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