South Korea says US companies to invest $2 billion in chip, energy sectors

Four U.S. companies have pledged a combined $2 billion investment in South Korea, according to the country's Industry Ministry. The investments span across semiconductors, advanced materials, and energy sectors. This news emerged during a ceremony in Washington on Thursday, as reported by a ministry press release.

Air Products, an industrial gases supplier, plans to expand its semiconductor gas and rare gas facilities in Pyeongtaek. Meanwhile, chip equipment maker Axcelis intends to bolster its production of ion implantation systems in the country.

Corning, a materials company, will invest in advanced glass and other materials utilized in displays and semiconductors. Lastly, renewable energy developer Pacifico Energy aims to advance a 3.2-gigawatt offshore wind project in South Korea's southwest region. This new project is anticipated to host a new chip cluster, as stated in the press release.