Amkor Technology, a US-based chip packaging and testing company, will expand its production capacity in South Korea, a move expected to strengthen the competitiveness of the country's semiconductor ecosystem, the industry ministry said Wednesday.
Amkor plans to construct three new production lines and install additional semiconductor testing equipment at its factory in Incheon, about 40 kilometers west of Seoul, the Ministry of Trade, Industry and Resources said.
The company also plans to broaden its cooperation with Korea's semiconductor parts, materials and equipment sectors as part of efforts to reinforce the local chip ecosystem, the ministry added.
Amkor unveiled the investment plan during a global investment partnership event held on the sidelines of the Asia-Pacific Economic Cooperation gathering held in the southeastern city of Gyeongju late last month.
At the event, Amkor and six other companies, including Amazon Web Services and Renault, made commitments to invest a combined $9 billion in Korea over the next five years, according to the ministry.
"We express gratitude to Amkor for making a bold decision to invest in South Korea amid intensifying competition over global leadership in the semiconductor industry," Deputy Minister for Trade and Investment Kang Kam-chan said. (Yonhap)
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