Busan City and Ministry of Trade, Industry and Energy Officially Launch Busan Power Semiconductor Specialized Complex Revitalization

Groundbreaking Ceremony for IQ Lab Headquarters Relocation at Southeast Radiation Medical Science Complex at 11:00 AM on the 5th

Visit to SK Powertech, a Leading Company in the Specialized Complex, by First Vice Minister of Industry and Vice Mayor for Economic Affairs at 1:20 PM

The full-scale launch to revitalize the ‘Second Phase Specialized Clusters for Materials, Parts, and Equipment (Sobu-jang Specialized Clusters),’ including the Busan Power Semiconductor Specialized Cluster, is set to begin in Busan!

Busan City Hall.

On the 5th, starting at 11 a.m., Busan Metropolitan City and the Ministry of Trade, Industry and Energy will consecutively hold the groundbreaking ceremony for ‘IQ Lab,’ a company attracting investment in power semiconductors, an on-site inspection of the Power Semiconductor Specialized Cluster, and a workshop for the Second Phase Materials, Parts, and Equipment Specialized Clusters.

This schedule was organized to bring together the five cities and provinces selected for the Second Phase Sobu-jang Specialized Clusters, the Ministry of Trade, Industry and Energy, Korea Institute for Advancement of Technology (KIAT), related organizations, and companies in Busan to reaffirm their commitment to establishing the clusters and to build an organic communication system.

Last July, the Power Semiconductor Specialized Cluster was selected as one of the Second Phase Materials, Parts, and Equipment Specialized Clusters. Since then, the Ministry of Trade, Industry and Energy has been preparing customized support measures and selecting six leading companies, accelerating the establishment of the cluster.

First, at 11 a.m., a groundbreaking ceremony will be held for the headquarters relocation of IQ Lab, a power semiconductor investment company, at the Southeast Radiation Science Industrial Complex (Zone 8-4), which is part of the Busan Power Semiconductor Specialized Cluster.

Approximately 300 people, including Mayor Park Hyungjoon, First Vice Minister Kang Kyungsung of the Ministry of Trade, Industry and Energy, Yang Jaesaeng, Chairman of the Busan Chamber of Commerce and Industry, Kim Youngjin, Vice President of Korea Development Bank, company officials, and citizens are expected to attend.

The groundbreaking ceremony for IQ Lab’s headquarters relocation comes eight months after the city and IQ Lab signed a memorandum of understanding for investment, including the relocation, last October. As this is the first large-scale investment since the designation of the Power Semiconductor Specialized Cluster, it is expected to accelerate the cluster’s development.

The new plant will involve an investment of approximately 100 billion KRW and will be established as a manufacturing facility capable of designing and producing the nation’s first 8-inch silicon carbide (SiC) power semiconductor devices. It is scheduled for completion in about a year and will begin full-scale operation in the second half of next year (2025). This is expected to create more than 200 new jobs, as well as foster specialized talent in power semiconductors.

Next, at 1:20 p.m., there will be a visit to SK Powertech, a leading company and tenant in the Power Semiconductor Specialized Cluster, to hear about the company’s status and challenges and to tour the related production facilities.

In particular, Vice Minister Kang and the city’s Deputy Mayor for Economic Affairs will participate in the on-site inspection to directly listen to candid opinions from leading companies in power semiconductors and to discuss ways to vitalize the cluster.

SK Powertech is the first company in Korea to commercialize silicon carbide (SiC) power semiconductors and is located in the Jang-an Complex at the Power Semiconductor Commercialization Center (Busan Technopark).

By linking with its parent company SK Group’s silicon carbide wafer (SiC Wafer) materials, SK Powertech is expected to play a key role in revitalizing the Busan Power Semiconductor Specialized Cluster.

Finally, from noon to 8 p.m. on the 5th, the Ministry of Trade, Industry and Energy will host the ‘Second Phase Sobu-jang Specialized Cluster Workshop’ at Haeundae Centum Hotel. Representatives from the five cities and provinces selected for the Second Phase Sobu-jang Specialized Clusters, the ministry, and related organizations will gather to share development plans for each cluster.

Starting with an opening speech by Vice Minister Kang, presentations will be given by various organizations in fields such as: introduction of the Specialized Cluster Support Center (KIAT), testbed, talent development, and R&D guidance (KIAT), investment attraction programs (KITIA), and export support programs (KOTRA).

As this is the first workshop hosted by the government since the designation of the Second Phase Sobu-jang Specialized Clusters, it is expected to serve as a vibrant venue for collaboration and exchange among the government, local governments, and businesses.

Mayor Park Hyungjoon said, “Various government-level investment projects to vitalize the specialized clusters are becoming visible, and our city is also steadily pursuing various projects such as testbeds, R&D, and talent development in line with these efforts. The city will continue to provide unwavering support so that the Busan Power Semiconductor Specialized Cluster can become a hub for collaboration among the government, local governments, and businesses.”

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