Gyeongbuk Province and SK Materials Sign MOU for Semiconductor Plant in Yeongju City... 200 Billion KRW Investment Over 3 Years

[Asia Economy Yeongnam Reporting Headquarters, Reporter Park Dong-wook] Gyeongsangbuk-do signed a Memorandum of Understanding (MOU) for investment to expand the manufacturing plant for semiconductor and display materials on the 27th at Yeongju City Hall, attended by Governor Lee Cheol-woo, Yeongju Mayor Jang Wook-hyun, and SK Materials Co., Ltd. CEO Lee Yong-wook.

This agreement includes SK Materials Co., Ltd.'s plan to invest 200 billion KRW over three years until 2023 to expand its manufacturing plant for semiconductor and display materials.

As a result, 200 new jobs will be created, which is expected by Gyeongbuk Province to greatly contribute to revitalizing the regional economy and creating jobs in the northern part of Gyeongbuk.

Established in 1982, SK Materials Co., Ltd. produces materials used in semiconductor and display manufacturing processes. Since becoming an affiliate of SK Group in 2016, it has grown into a comprehensive IT materials company with annual sales of 955 billion KRW.

Through joint ventures with global semiconductor material companies, SK Materials established 'SK Trichem,' which produces precursors, and 'SK Showa Denko,' which manufactures materials needed for semiconductor processes. It has diversified its product portfolio and is leading the materials industry sector, where demand is increasing due to semiconductor miniaturization processes and the spread of 3D NAND flash.

Jang Wook-hyun, Mayor of Yeongju, promised, "We will spare no support for the successful investment of the local company SK Materials Co., Ltd., carrying the hopes of all citizens for regional economic recovery."

Lee Cheol-woo, Governor of Gyeongsangbuk-do, stated, "With the Fourth Industrial Revolution, the semiconductor industry is expected to enter a boom period, and I am confident that SK Materials' investment in the semiconductor materials industry will greatly contribute to revitalizing the regional economy."