Chungnam Province Establishes 'Renewable Energy Ecosystem' in Cheonan

Chungnam Province is establishing a renewable energy ecosystem in Cheonan.

On the 7th, Chungnam Province announced that it signed a memorandum of understanding (MOU) for win-win cooperation with the German company Infineon Technologies (hereinafter Infineon) regarding this matter.

Infineon, the world’s number one company in power and automotive semiconductors, will collaborate with Chungnam Province on renewable energy, future new industries, system semiconductors, startups and incubating, and talent development following the MOU signing.

The core plan is to jointly establish and operate a “Renewable Energy Technology Center (tentative name)” at the Chungnam Knowledge Industry Center located in Cheonan, and based on this, build a renewable energy ecosystem in the region.

To this end, Chungnam Province will provide space for the center, and Infineon plans to provide technology and professional personnel.

Specifically, Chungnam Province will build a public foundry operating 24 hours to support small-volume, multi-product production for small and medium fabless (semiconductor design) companies and create a stable system semiconductor ecosystem.

Infineon will support selected startups with specialized technology and other resources. For talent development, Chungnam Province and Infineon will jointly develop educational programs including global talent cultivation through university student internship programs, professional workforce training programs, and support for master's and doctoral courses at local universities.

Ultimately, the vision Chungnam Province and Infineon share is to create new renewable energy revenue models in Chungnam and expand into the global market.

Governor Kim Tae-heum said, “We expect Infineon’s technological capabilities to play a key role in the industrial development of Chungnam and South Korea.”

Meanwhile, Infineon is headquartered in Bavaria, Germany, and employs a total of 50,000 people worldwide. Its sales revenue reaches 11.1 billion euros. The company currently has a factory installed and operating in Cheonan.