Four U.S. Advanced-Industry Companies Plan $2.8 Billion in South Korean Investments

Four U.S. advanced-technology companies plan to invest about $2.8 billion in South Korea, targeting the materials, equipment and energy systems that support semiconductors and artificial intelligence.

South Korea’s Ministry of Trade, Industry and Energy and the Korea Trade-Investment Promotion Agency said the companies filed investment declarations totaling $2 billion at an event in Washington on Sept. 3 local time. The companies are Air Products, Axcelis, Corning and Pacifico Energy.

Air Products plans to expand a semiconductor-gas supply facility in Pyeongtaek, Gyeonggi province. The project will include ultra-high-purity gas facilities used in semiconductor manufacturing and rare-gas equipment for advanced processes. The ministry described it as Air Products’ largest project in South Korea since entering the market.

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The people who will drive the development of South Korea-U.S. industrial cooperation are business leaders.

Axcelis will expand its ion implanter manufacturing facility in Pyeongtaek. Ion implanters are key front-end semiconductor tools that adjust electrical properties by injecting impurities into wafers. Axcelis has produced the equipment directly in South Korea since 2021, and the country is its only manufacturing base for ion implanters outside the United States. The company plans to strengthen the site’s role as an export hub for Asia and the Pacific.

Corning will upgrade its South Korean production capacity for specialty glass, optical products, ceramics and other advanced materials. The company has invested in South Korea for more than 50 years and plans to add facilities linked to next-generation mobile devices and semiconductors, including upgrades at its operations in Asan, South Chungcheong province.

Pacifico Energy plans to develop a 3.2-gigawatt offshore wind farm in waters off Jindo, South Jeolla province. Officials described offshore wind as a potential clean-energy source for power-intensive industries such as AI data centers and semiconductor clusters. Trade Minister Kim Jeong-kwan said the government would support the companies as an investment destination and gateway to global markets. The ministry also held a forum in San Francisco connecting eight South Korean startups with U.S. corporate and venture-capital investors.

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We will actively support South Korea as an attractive investment destination that can take your businesses to the next level and as a gateway to global markets.