Governor Abbott Visits Korea
Inspects Semiconductor Line with Jeon Young-hyun, Head of DS Division
Expresses Gratitude to Samsung Electronics for 'Texas Investment'
Held Meeting with Yoo Jung-joon, Vice Chairman of SK On, the Previous Day
Greg Abbott, Governor of Texas, USA, who visited South Korea to attract investment, visited Samsung Electronics' Pyeongtaek Campus on the 9th.
On April 8th, attendees are taking a commemorative photo at the trade industry meeting hosted by Greg Abbott, Governor of Texas, held at the Shilla Hotel in Jung-gu, Seoul. [Image source=Yonhap News]
According to industry sources, Governor Abbott visited the Pyeongtaek Campus in the morning and toured semiconductor production lines and products along with key Samsung Electronics executives, including Young-Hyun Jeon, Vice Chairman and Head of the Device Solutions (DS) Division. Abbott reportedly expressed his gratitude for Samsung Electronics' investment in Texas during the visit.
Samsung Electronics has been operating a semiconductor factory in Austin, Texas for 27 years. Currently, it is building a semiconductor plant in Taylor, Texas with an investment of $17 billion (approximately 23.5 trillion KRW). Samsung plans to expand the scale and investment targets of the Taylor plant and invest more than $40 billion by 2030.
The day before, Governor Abbott also held meetings with SK On Vice Chairman and SK Americas CEO Jung-Jun Yoo and SK Signet CEO Jeong-Ho Shin. He expressed appreciation for SK Signet's construction of an electric vehicle charger manufacturing facility in Texas. In response, Vice Chairman Yoo reportedly stated that they would continue the cooperative relationship.
On the 8th, at a location in Seoul, Greg Abbott, Governor of Texas (second from the left), Yoo Jung-joon, Vice Chairman of SK On and Vice Chairman & CEO of SK Americas (second from the right), and Shin Jung-ho, President & CEO of SK Signet (third from the right), are having a meeting. Photo by the State of Texas [Image source=Yonhap News]
SK Signet is a company renamed after SK Inc. acquired Signet EV in March 2021 with an investment of about 290 billion KRW. It holds the number one position in the ultra-fast electric vehicle charger market in the United States. Previously, SK Signet invested a total of $37 million to build a new factory in Plano, Texas. This factory began mass production in July last year and currently has an annual production capacity of 10,000 ultra-fast chargers.
Meanwhile, Governor Abbott plans to hold a press conference at the Shilla Hotel in Jung-gu, Seoul, in the afternoon to announce future investment attraction plans for Texas. Texas is a major economic partner of South Korea. As of last year, South Korea was the 5th largest export country and 6th largest import country for Texas, with trade volume between the two regions reaching about $32 billion. As of April this year, 270 South Korean companies have entered Texas, making it the second largest after California (600 companies).
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