Gyeonggi Agency to Foster Icheon Semiconductor Materials, Components, and Equipment Companies... Up to 44 Million Won in Support

The Gyeonggi Provincial Economic Science Promotion Agency, in collaboration with the city of Icheon, is set to foster the semiconductor materials, components, and equipment sectors, which are key industries for the local economy.

On March 16, the agency announced that it is recruiting companies to participate in the "2026 Icheon City Materials, Components, and Equipment Company Fostering Support Project" until April 3. The support is divided into two areas: "product innovation" for technological advancement and "market development" for business expansion.

Companies selected for the program will receive up to 44 million won per company, covering up to 70% of the total project cost. Eligible applicants are small and medium-sized enterprises in the semiconductor materials, components, and equipment manufacturing sector that have operated their headquarters or factories in Icheon for at least three years as of the announcement date.

Gyeonggi-do Economic Science Promotion Agency

The agency will determine the recipients through a document review, on-site inspection, and presentation evaluation. The selected companies will carry out their projects by November, following the signing of the agreement.

Kim Gil-a, Director of the Balanced Development Division at the agency, said, "With the global semiconductor cycle entering a strong upward phase, it is more important than ever for Icheon’s materials, components, and equipment companies to seize this opportunity and lay the foundation for growth. We hope that this new initiative, launched this year, will serve as a catalyst to further enhance the global competitiveness of our companies."

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