Texas State Government Dispatches Investigation Team with Semiconductor Association
10 Domestic Companies Participate to Inspect Investment and Expansion Areas
On the 28th (local time), KOTRA announced that it dispatched a semiconductor investment investigation team to Texas, USA. The team was formed in collaboration with the Texas state government and the Korea Semiconductor Industry Association. Cities in Texas, such as Taylor, where Samsung Electronics is investing $17 billion (approximately 22 trillion KRW) to build a foundry (semiconductor contract manufacturing) plant, are included.
KOTRA explained that the investigation team was organized to enhance Korean companies' understanding of the US government's active investment attraction policies and to support their entry into the US market. Ten Korean companies participated.
On the 28th, a Texas Semiconductor Investment Entry Seminar and Consultation Meeting was held at the Hyatt Regency Hotel in Austin, Texas. A representative from the Texas Economic Development Department provided comprehensive information about the state's investment environment during the seminar.
Major consulting firms such as Nelson Mullins (legal), LEK Partners (accounting and tax), and Savills (real estate) also participated, delivering information on legal affairs, accounting, workforce, and real estate.
After the seminar, one-on-one consultations were held between state government officials, consulting firms, and participating companies.
Samsung Electronics Semiconductor (DS) Division Head and CEO Kyung Kye-hyun visited the foundry plant construction site in Taylor, Texas, USA, on January 8 (local time) and received the "Samsung Highway" road sign from Bill Gravel, Williamson County Judge. [Image source=Yonhap News]
From that day, meetings with locally established Korean companies, inspections of manufacturing facilities, and visits to potential investment areas were conducted. The investigation team visited E&F Technology, a KOSDAQ-listed semiconductor materials company located in Kyle, Texas, to learn from their experience since entering the US market in 2020. They also inspected manufacturing sites.
Additionally, the team visited iMarketKorea in Taylor, Texas, to tour manufacturing facilities, logistics warehouses, office spaces, and other potential investment sites.
Park Seong-ho, head of KOTRA's North America Regional Headquarters, stated, "To successfully enter the US market, it is essential to accurately gather information in advance and closely cooperate with local government officials. KOTRA plans to open a GP Center in Austin, Texas, next month following this investigation team dispatch."
The Austin GP Center will provide office space, consulting, and marketing support to small and medium-sized Korean semiconductor companies wishing to enter the US market.
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