Korea Development Bank Supports Construction of Specialized Power Semiconductor Plant in Busan

Korea Development Bank announced on the 17th that it attended the completion ceremony of IQ Lab's silicon carbide (SiC) power semiconductor production plant, located in Busan's specialized complex for power semiconductor materials, components, and equipment, along with more than 300 participants including Hyungjun Park, Mayor of Busan.

This company is a power semiconductor design and manufacturing venture founded in May 2018 in Ansan, Gyeonggi Province. Until now, it has produced products through foundries or leased factories, such as the Pohang University of Science and Technology Nano Convergence Technology Institute. According to Korea Development Bank, the construction of this new plant is expected to improve production efficiency by establishing an in-house mass production system.

Bokgyu Kim, Senior Vice President of Korea Development Bank (sixth from the left), Kwonje Kim, CEO of IQ Lab, Hyungjun Park, Mayor of Busan, Jaesaeng Yang, Chairman of Busan Chamber of Commerce and Industry, and Jongbok Jeong, Mayor of Gijang County, participated in the completion ceremony. Korea Development Bank

Korea Development Bank has continuously supported the company's growth, starting with attracting 25 billion won in external investment (including 3 billion won from Korea Development Bank) through the regionally specialized venture platform 'KDB V:Launch,' and providing 60 billion won in funding for the construction of the new plant.

Bokgyu Kim, Senior Vice President of Korea Development Bank, stated, "It is necessary to quickly transform the industrial ecosystem in the southern region, which is centered on traditional manufacturing, into a future-oriented advanced strategic industry structure to revitalize the local economy. Korea Development Bank plans to make even greater use of its financial and industrial networks, as well as combined investment and loan financing, to discover and attract promising and innovative companies like IQ Lab to the region."

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