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

SEOUL, September 4 - Four U.S. firms have pledged a collective $2 billion investment in South Korea's semiconductor, advanced materials, and energy sectors, according to the country's Industry Ministry. The announcements were made 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.

Axcelis, a chip equipment manufacturer, will increase production of ion implantation systems in the country. Corning, a materials company, intends to invest in advanced glass and other materials utilized in displays and semiconductors. Renewable energy company Pacifico Energy aims to advance a 3.2-gigawatt offshore wind project in South Korea's southwest region, which is expected to house a new chip cluster.