The Incheon Metropolitan Council is joining forces to attract a semiconductor specialized complex to Incheon, which will be responsible for the future growth engine of South Korea amid the global economic crisis.
On the 9th, the first day of the 287th extraordinary session, the council held a resolution meeting in the main chamber of the council with all council members, including Chairman Heo Sik, in attendance, declaring full support for attracting the semiconductor specialized complex to Incheon.
At the resolution meeting, council members Lee Seon-ok and Na Sang-gil read and led the statement emphasizing the necessity of attracting the semiconductor specialized complex to Incheon.
Currently, Incheon is the undisputed number one city in system semiconductor exports, one of the national advanced strategic industries, and is home to the world’s 2nd and 3rd largest semiconductor packaging companies and about 1,300 materials, parts, and equipment (SoBuJang) companies, forming an established semiconductor industry ecosystem.
Additionally, Incheon International Airport and port, which are among the world’s best, serve as export routes for semiconductors, providing Incheon with a geographical advantage that no other region can match.
Chairman Heo stated, "Incheon already has a perfect semiconductor industry ecosystem and geographical accessibility with the world’s best metropolitan transportation network, as well as idle industrial sites ready for immediate construction. The designation of the semiconductor specialized complex must be Incheon."
He added, "For over 40 years, the semiconductor industry has been a strong pillar of our economy and has driven South Korea’s economic growth. The path to leap forward in the rapidly changing global market cannot be solved by the logic of national balanced development limited to domestic boundaries, but lies in securing global competitiveness to survive in the global semiconductor market."
Chairman Heo reaffirmed his determination, saying, "Based on Incheon’s unique competitiveness with a fully equipped semiconductor industry ecosystem including core industries and demand companies, we will definitely attract the semiconductor specialized complex that will lead South Korea’s future economy."
Incheon City Council held a resolution rally on the 9th to support the attraction of a semiconductor specialized complex to Incheon, with all city council members, including Chairman Heo Sik, in attendance. [Photo by Incheon City Council]
Meanwhile, Incheon City submitted an application and development plan for the designation of the semiconductor specialized complex to the Ministry of Trade, Industry and Energy in February.
Earlier, in December of last year, the Ministry of Trade, Industry and Energy began a public contest targeting metropolitan local governments and companies. They will comprehensively evaluate factors such as possession of national advanced strategic technologies, maturity of regional industrial ecosystems, and feasibility of securing infrastructure and skilled personnel, and plan to designate the specialized complex at the National Advanced Strategic Industry Committee in the first half of this year.
If designated as a semiconductor specialized complex, it will receive various government supports such as infrastructure construction, workforce training, expedited permits and approvals, and tax benefits.
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