○ On January 3, Gyeonggi Province signed an MOU with Linde (USA), the world’s largest industrial gas company. - Agreement to invest up to K...
○ On January 3, Gyeonggi Province signed an MOU with Linde (USA), the world’s largest industrial gas company.
- Agreement to invest up to KRW 150 billion by 2031 in production of rare gases for semiconductors.
- Domestic production and supply of rare gases to relieve Korea’s high dependence on overseas suppliers; expected to stabilize domestic semiconductor material supply chain and generate import substitution effects.
○ Gyeonggi Province Governor Dong Yeon Kim: “With the entry of semiconductor material companies, Gyeonggi Province has been able to become a true international semiconductor mecca.”
○ In addition to attracting the world's top four semiconductor equipment companies, Gyeonggi Province has also succeeded in attracting the world's largest semiconductor material company. The province has now secured its position as a global semiconductor industry center through active administration.
Amid fears of a global recession, Gyeonggi Province had a bright start to the new year, successfully attracting a KRW 150 million investment from Linde (USA), the world's largest industrial gas producer.
Gyeonggi Province Governor Dong Yeon Kim visited the Pyeongtaek Linde Plant located in Godeok-myeon of Pyeongtaek City on January 3 and signed an investment MOU with Pyeongtaek City Mayor Jeong Jang-seon and Linde Korea Chairman Seong Baek-seok. The three agreed to work together to stabilize the domestic supply chain of rare gases for semiconductors.
Governor Kim, after marking the first investment of the new year, said "Last year, we realized great achievements in attracting the world’s top four semiconductor equipment companies to Gyeonggi Province, but this time Linde, the world's leading industrial gas producer, will make an additional investment.” He added, “I can't help but be happy that Gyeonggi Province can grow as an international semiconductor mecca with the entry of these semiconductor companies.”
“We experienced many things while going through the Asian financial crisis of the late 1990s and the financial crisis of 2008, and saw the rise and fall of many companies depending on how they responded to the crises… We believe that this investment will create a great foundation for significant growth, even in the face of economic difficulties. Gyeonggi Province will do its utmost and pursue deregulation so that not only Linde but also other companies can operate freely.”
Mayor Jeong said, “I offer best wishes for the success of Linde’s industrial gas-production facilities and look forward to their continued development.” He added “We will provide full administrative support, such as one-stop corporate services, for the establishment of Linde’s operations.”
Chairman Panikar said, “Linde will continue to expand its local production capacity in Korea to ensure stable product supply. We will do our best in adding value to our clients’ businesses and in providing superlative products and services.”
Linde plans to invest KRW 150 billion in Pyeongtaek City by 2031 to establish facilities that will produce rare gases, such as krypton and xenon, that will be supplied to domestic customers in the semiconductor industry.
Such gases are highly scarce, existing only in very small amounts on Earth, and are extremely difficult to mass produce. In the semiconductor industry, rare gases like krypton, xenon, and neon are essential materials. Korea is extremely dependent on overseas suppliers for these gases, and so localization is progressing rapidly to stabilize the domestic supply chain. Krypton and xenon are primarily used in the etching process that cuts circuit patterns on semiconductor wafers, while neon is mainly used in the exposure process that engraves microcircuits on semiconductor wafers.
Linde Korea has been importing rare gases produced by Linde's overseas subsidiaries and supplying them to local customers. It now plans to directly produce about half of the domestic supply.
This investment is expected to substantially stabilize the domestic supply of rare gases for semiconductors, thereby strengthening the foundation for the semiconductor industry in Korea. Additionally, if such rare gases are domestically produced, import substitution effects are expected that would effectively revitalize the local economy by creating new jobs and generating tax revenue.
Gyeonggi Province has been actively working to ensure the success of this investment, realizing large-scale investments while resolving the difficulties faced by companies through active administration.
Linde Korea currently has an industrial gas facility in a complex exclusively for foreign-invested companies in the Hyeongok area of Pyeongtaek City. Having considered the establishment of a rare gas production facility, it sought to secure a site near its Hyeongok facility so that it could reduce logistics costs and operate efficiently.
Accordingly, Gyeonggi Province provided connections for Linde Korea with Company ‘A,’ which was seeking an exit strategy from the complex due to a sudden change in the business environment, and mediated the process to ensure that negotiations between the two companies proceeded smoothly, leading to this agreement.
Having successfully attracted the world's top four semiconductor equipment companies and now Linde, the world's largest semiconductor material company, Gyeonggi Province has secured its position as a center of the global semiconductor industry.
Established in 1897 and headquartered in Connecticut, USA, Linde is a global industrial gas production and engineering company that supplies industrial gases and related facilities for various industries such as semiconductors, petrochemicals, food and beverage, and displays, generating an annual revenue of USD 31 billion.
- Agreement to invest up to KRW 150 billion by 2031 in production of rare gases for semiconductors.
- Domestic production and supply of rare gases to relieve Korea’s high dependence on overseas suppliers; expected to stabilize domestic semiconductor material supply chain and generate import substitution effects.
○ Gyeonggi Province Governor Dong Yeon Kim: “With the entry of semiconductor material companies, Gyeonggi Province has been able to become a true international semiconductor mecca.”
○ In addition to attracting the world's top four semiconductor equipment companies, Gyeonggi Province has also succeeded in attracting the world's largest semiconductor material company. The province has now secured its position as a global semiconductor industry center through active administration.
Amid fears of a global recession, Gyeonggi Province had a bright start to the new year, successfully attracting a KRW 150 million investment from Linde (USA), the world's largest industrial gas producer.
Gyeonggi Province Governor Dong Yeon Kim visited the Pyeongtaek Linde Plant located in Godeok-myeon of Pyeongtaek City on January 3 and signed an investment MOU with Pyeongtaek City Mayor Jeong Jang-seon and Linde Korea Chairman Seong Baek-seok. The three agreed to work together to stabilize the domestic supply chain of rare gases for semiconductors.
Governor Kim, after marking the first investment of the new year, said "Last year, we realized great achievements in attracting the world’s top four semiconductor equipment companies to Gyeonggi Province, but this time Linde, the world's leading industrial gas producer, will make an additional investment.” He added, “I can't help but be happy that Gyeonggi Province can grow as an international semiconductor mecca with the entry of these semiconductor companies.”
“We experienced many things while going through the Asian financial crisis of the late 1990s and the financial crisis of 2008, and saw the rise and fall of many companies depending on how they responded to the crises… We believe that this investment will create a great foundation for significant growth, even in the face of economic difficulties. Gyeonggi Province will do its utmost and pursue deregulation so that not only Linde but also other companies can operate freely.”
Mayor Jeong said, “I offer best wishes for the success of Linde’s industrial gas-production facilities and look forward to their continued development.” He added “We will provide full administrative support, such as one-stop corporate services, for the establishment of Linde’s operations.”
Chairman Panikar said, “Linde will continue to expand its local production capacity in Korea to ensure stable product supply. We will do our best in adding value to our clients’ businesses and in providing superlative products and services.”
Linde plans to invest KRW 150 billion in Pyeongtaek City by 2031 to establish facilities that will produce rare gases, such as krypton and xenon, that will be supplied to domestic customers in the semiconductor industry.
Such gases are highly scarce, existing only in very small amounts on Earth, and are extremely difficult to mass produce. In the semiconductor industry, rare gases like krypton, xenon, and neon are essential materials. Korea is extremely dependent on overseas suppliers for these gases, and so localization is progressing rapidly to stabilize the domestic supply chain. Krypton and xenon are primarily used in the etching process that cuts circuit patterns on semiconductor wafers, while neon is mainly used in the exposure process that engraves microcircuits on semiconductor wafers.
This investment is expected to substantially stabilize the domestic supply of rare gases for semiconductors, thereby strengthening the foundation for the semiconductor industry in Korea. Additionally, if such rare gases are domestically produced, import substitution effects are expected that would effectively revitalize the local economy by creating new jobs and generating tax revenue.
Gyeonggi Province has been actively working to ensure the success of this investment, realizing large-scale investments while resolving the difficulties faced by companies through active administration.
Linde Korea currently has an industrial gas facility in a complex exclusively for foreign-invested companies in the Hyeongok area of Pyeongtaek City. Having considered the establishment of a rare gas production facility, it sought to secure a site near its Hyeongok facility so that it could reduce logistics costs and operate efficiently.
Accordingly, Gyeonggi Province provided connections for Linde Korea with Company ‘A,’ which was seeking an exit strategy from the complex due to a sudden change in the business environment, and mediated the process to ensure that negotiations between the two companies proceeded smoothly, leading to this agreement.
Having successfully attracted the world's top four semiconductor equipment companies and now Linde, the world's largest semiconductor material company, Gyeonggi Province has secured its position as a center of the global semiconductor industry.
Established in 1897 and headquartered in Connecticut, USA, Linde is a global industrial gas production and engineering company that supplies industrial gases and related facilities for various industries such as semiconductors, petrochemicals, food and beverage, and displays, generating an annual revenue of USD 31 billion.
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