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Minister of Trade, Industry and Energy Kim Jung-kwan poses for a commemorative photo with U.S. Secretary of Commerce Howard Lutnick while attending the G20 Innovation Ministerial Meeting held in Chapel Hill, North Carolina, on the 2nd (local time). / Ministry of Trade, Industry and Energy

Minister of Trade and Industry Kim Jung-kwan held a U.S. investment declaration ceremony and roundtable in Washington, D.C., on the afternoon of the 3rd (local time) in partnership with the Korea Trade-Investment Promotion Agency (KOTRA).

At the event, four U.S. companies—Air Products, Axcelis, Corning, and Pacifico Energy—declared a combined 2 billion dollars in foreign direct investment (FDI) across fields including semiconductor materials and equipment, advanced materials for displays, and offshore wind power.

First, industrial gas company Air Products will expand its semiconductor gas supply facilities in Pyeongtaek, Gyeonggi Province. Marking its largest investment since entering the Korean market, the project will establish facilities for ultra-high-purity gases used in semiconductor manufacturing and rare gas infrastructure utilized in precision processing.

Semiconductor ion implantation equipment maker Axcelis is moving to expand its domestic manufacturing facilities. Axcelis has been producing ion implanters in South Korea since 2021—the only location outside the U.S. where it does so. Through this investment, the company plans to expand South Korea into an export hub for supplying ion implanters across the Asia-Pacific region.

Corning, a core player in advanced materials including specialty glass for displays, will strengthen its manufacturing capabilities in South Korea and accelerate the installation of advanced materials facilities for next-generation mobile devices and semiconductors.

Pacifico Energy develops and operates renewable power projects such as wind and solar energy across the Asia-Pacific region, including the U.S., Japan, and Vietnam. With this investment as momentum, the company plans to move forward in earnest with a project to build a 3.2-GW offshore wind power complex currently underway in the Jeonnam-Gwangju region.

Minister Kim emphasized, "The driving forces who will advance Korea-U.S. industrial cooperation going forward are none other than all of you business leaders," adding, "We will actively provide support so that South Korea can serve as an attractive investment destination that elevates your businesses to the next level and as a gateway to the global market."

Meanwhile, the Ministry of Trade and Industry set up a networking platform to expand cooperation between domestic innovative enterprises and local investors. On the afternoon of the 1st in San Francisco, U.S., the ministry held the Korea-U.S. CVC and VC Forum, connecting eight domestic startups boasting outstanding technology and growth potential with local global investors.

                                                                                                            Kim So-young