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Gyeongbuk’s MOU with the highest-ever amount, a strong start for investment attraction of KRW100 trillion for the 8th popular election 상세내용
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- Gyeongbuk’s MOU with the highest-ever amount, a strong start for investment attraction of KRW100 trillion for the 8th popular election
- 등록일2022-09-13 20:21:17
- 작성자 investment [ 박근배 ☎054-880-4612 ]
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- LG Innotek acquired the Gumi A3 plant from LG Electronics and will invest KRW 1.4 trillion by 2023 -
- Pre-emptive investment in expanding global demand and aiming at dominating the market in cooperation with Gyeongbuk Province -
Gyeongsangbuk-do, which declared its goal to achieve KRW 100 trillion of investment attraction during the eighth term of the popular election, started to progress toward the grand goal in earnest, by signing a memorandum of erstanding (MOU) for the highest amount of a single investment project in its history.
At the ceremony of the investment agreement held at Gumi City Hall on the 6th, Gyeongsangbuk-do and Gumi City signed an MOU with the amount of KRW 1.4 trillion with governor Lee Chul-woo, Gumi mayor Kim Jang-ho, president of LG Innotec Jeong Chul-dong, lawmaker Koo Ja-geun, lawmaker Kim Young-sik, and co-chairman of the Special Committee for Investment Attraction of the Province Lee Hee-beom.
LG Innotek plans to produce camera modules and flip chip—ball grid arrays (FC-BGA) at the Gumi plant. The plant is the size of 125,557 m2 (38,000 pyeong) and was recently acquired from LG Electronics. Furthermore, the company will prepare for its present and future by promoting a great scale of projects that will create approximately 1,000 jobs directly and indirectly.
As a symbol of the current LG Innotek, the business of camera modules has maintained its position as the top global market with a market share of since 2011.
In addition, it is also promising for the future.
Beyond camera modules for smartphones, which is currently the companys main business, its demand for vehicles is also rapidly rising with the commercialization of autonomous vehicles, and it is expected to expand the application areas to the expanded reality (XR) plats that encompass virtual reality (VR) and augmented reality (AR).
Yole Development, a market research institution, predicts that the global camera module market is expected to reach USD 60 billion (KRW 75 trillion) in 2025.
As the key factor in differentiating semiconductor perance, FC-BGA is driving the growth of the semiconductor substrate market, and thus, it can be the future of LG Innotek.
Currently, only about 10 companies can produce the FC-BGA because of its high technological barriers to entry, including securing stability and fast transmission speed.
As a leading producer of semiconductor substrates for telecommunications, LG Innotek has decided to invest in FC-BGA production with the goal of becoming the global leader in this market. Utilizing its best business capabilities, it aims to dominate the world market for semiconductor substrates.
As expected, the outlook of the market is also positive. Last year, the market for semiconductor package substrates grew 19% to USD 12.2 billion (KRW 14.5 trillion) compared to the previous year, of which FC-BGA accounts for about 47%.
The industry predicts that the demand for FC-BGA will have an annual increase of 11% by 2025.
Achieving the first fruition of its goal of KRW 100 trillion of investment attraction during the 8th term of the popular election, Gyeongsangbuk-do strengthened its determination to a grobreaking regional era by quickly launching a Special Committee for Investment Attraction with 34 business experts last month, in response to the investment plan of 1,100 trillion won announced by the nation’s top 10 conglomerates, including Samsung, SK, LG, etc.
- 담당부서 :
- Gyeongsangbuk-do Provincial Gove
- 전화번호 :
- 054-880-4614
