Gijang County, Busan Holds Groundbreaking Ceremony for Leading Power Semiconductor Company 'IQ Lab'

IQ Lab, Korea's First 8-Inch SiC Power Semiconductor Manufacturer, Attracted to Southeast Industrial Complex

On the 5th, Gijang-gun, Busan announced that IQ Lab, a leading company in the power semiconductor sector, held a groundbreaking ceremony at the Southeast Region Medical and Science General Industrial Complex.

Jongbok Jeong, mayor of Gijang County, is delivering a congratulatory speech at the groundbreaking ceremony of the IQ Lab in the Southeast Industrial Complex.

At the ceremony, more than 300 people attended, including County Governor Jeong Jongbok, Busan Mayor Park Hyungjun, First Vice Minister of Trade, Industry and Energy Kang Kyungseong, Gijang County Council Chairman Park Woosik, Busan Chamber of Commerce and Industry Chairman Yang Jaesaeng, Korea Development Bank Vice President Kim Youngjin, and IQ Lab CEO Kim Kwonje, as well as officials from the central and local governments, academia, industry, and local residents.

IQ Lab is a company specializing in SiC power semiconductor design and technology development, and was designated as a 'Leading Power Semiconductor Company' by Busan City in April this year, receiving high recognition for its technological prowess. After signing an agreement with Busan City in the second half of last year and a land sales contract with Gijang-gun, the final decision was made for the company's location in the Southeast Region Industrial Complex.

Based on its core power semiconductor technology, IQ Lab plans to build the nation’s first fab capable of producing 30,000 power semiconductors annually using 8-inch silicon carbide (SiC) wafers at Zone 8-4 of the Southeast Region Industrial Complex (Ballyong-ri, Jangan-eup).

The company aims to begin mass production in the second half of 2025, expecting to create 300 new jobs and achieve up to 300 billion KRW in increased annual sales.

County Governor Jeong Jongbok said, “We are very pleased that a company with such advanced technology as IQ Lab is establishing itself in our Southeast Region Industrial Complex. We expect the company’s outstanding capabilities and vision to create a synergistic effect with the Southeast Region Industrial Complex, which boasts the nation’s top-class radiation infrastructure. We will spare no effort in providing active support so that resident companies can grow into key players in their respective fields.”

The Southeast Region Industrial Complex is a radiation medical and science cluster industrial park being developed by Gijang-gun in Jangan-eup, covering approximately 1.5 million square meters. Within the complex, the Southeast Radiation Oncology Center, which opened in 2010, as well as a medical heavy ion accelerator and a new research reactor for export, are scheduled for completion in 2026 and 2027, respectively.

In particular, since being designated as a specialized cluster for power semiconductor materials, parts, and equipment by the Ministry of Trade, Industry and Energy in July last year, the complex is emerging as a key base for building the next-generation power semiconductor ecosystem.