Korea's First 8-Inch Silicon Carbide Power Semiconductor Production Begins... IQ Lab Headquarters and Production Facility Completed

Korea's first 8-inch silicon carbide (SiC) power semiconductor production is expected to take place in Busan.

On the morning of September 17, Busan Metropolitan Government (Mayor Park Hyungjoon) announced that the completion ceremony for the headquarters and production facilities of IQ Lab Co., Ltd. was held in Jangan-eup, Gijang-gun.

More than 300 people attended the ceremony, including Mayor Park Hyungjoon, IQ Lab CEO Kim Kwonje, Gijang County Governor Jeong Jongbok, Korea Development Bank Senior Vice President Kim Bokgyu, and Leeno Industrial CEO Lee Chaeyoon.

The plant completed by IQ Lab is the first full-process production facility for 8-inch silicon carbide (SiC) power semiconductors in Korea. The facility is equipped for both in-house production and foundry services, and after pilot operation this year, it will begin full-scale operation next year with an annual production capacity of 30,000 wafers.

IQ Lab signed an investment memorandum of understanding with Busan in October 2023 and began construction in June 2024, completing the facility in about one year. In line with the company's decision to relocate its headquarters to Busan, the city provided 5 billion won in investment promotion funds and expedited various licensing procedures.

The factory covers a land area of 8,750 square meters and a total floor area of 7,322 square meters, with a total project cost of 100 billion won. The city and the company have been recognized for establishing the foundation for the localization of the entire 8-inch SiC power semiconductor process and the internalization of advanced technology in Korea through this facility.

IQ Lab is also actively recruiting and nurturing local young talent. The company is expanding industry-academia cooperation with high schools and universities in the Busan and Gyeongnam regions to hire graduates, and is recruiting more than 200 new employees. In addition, one floor of the office building will be used as a RISE (Regional Industry Specialized Education) field campus for power semiconductors, serving as a hub for local talent development and industry-academia collaboration.

Kim Kwonje, CEO of IQ Lab, stated, "Thanks to the full support of Busan Metropolitan Government and the designation of the specialized complex, we were able to successfully complete Korea's first 8-inch SiC plant. We will make sure IQ Lab grows into a leading global power semiconductor company representing Busan."

Mayor Park Hyungjoon said, "I sincerely congratulate IQ Lab, an outstanding semiconductor company from the Seoul metropolitan area, on its relocation to Busan and the completion of its headquarters and production facilities. I am confident that Busan will emerge as a global power semiconductor hub city. We will spare no effort to support IQ Lab's growth as a model company and will do our best to attract more semiconductor companies from the metropolitan area."

Aerial view of IQ Lab headquarters and production facilities.

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