Suwon City Signs Investment Agreement with Hong Kong Headquarters Laser Bal Technology Co., Ltd.

On the 14th, Suwon City in Gyeonggi Province signed an investment agreement with Laser Bal Technology Co., Ltd., the global No. 1 company in the field of laser jet soldering systems for smartphone camera modules.

According to the agreement, Laser Bal Technology Co., Ltd. will relocate its R&D (Research & Development) facilities and factory to Suwon. Suwon City will provide administrative and financial support, including promptly handling all administrative procedures to ensure the smooth relocation of the research facilities and factory.

Headquartered in Hong Kong, Laser Bal established its R&D center, Laser Bal Technology Co., Ltd., in Suwon in 2018. After relocating to a nearby city in 2021, it is now moving back to Suwon after three years.

Lee Jae-jun, Mayor of Suwon (right), is taking a commemorative photo after signing an investment attraction agreement with Andrew Kim, CEO of Razor Val Technology Co., Ltd., at the Suwon City Hall Situation Room on the 14th. Photo by Suwon City Hall

As the world’s No. 1 company in the field of laser jet soldering systems for smartphone camera modules, it supplies various laser solutions related to advanced patterning processes. Its major clients include Samsung, Apple, LG, and Foxconn.

Its sales amounted to 25 billion KRW as of last year, and it is transforming from an equipment manufacturing and sales company into a provider of manufacturing process value innovation solutions and semiconductor eco solutions. As of December 2023, it has 88 employees, with over 500 employees across Asia.

Andrew Kim, CEO of Laser Bal Technology Co., Ltd., said, "The most anticipated aspect of relocating the R&D center and factory to Suwon is hiring smart talent," adding, "Based on active cooperation with Suwon City, we will operate the R&D center innovatively to further increase corporate value."

Lee Jae-jun, Mayor of Suwon City, said, "Suwon has many universities, so there is an abundance of highly skilled talent, and with plenty of sports and cultural activities, the living conditions are very good," promising, "If there are any inconveniences or needs while operating a business, we will actively support them."