Samsung Electronics, 61 Companies, 7 Universities, and 9 Research Institutes Join Forces
Accelerating Growth with 1.6 Trillion Won Industrial Complex, 1.3 Trillion Won Policy Funds, and Dedicated Investment Fund
Chungnam, responsible for 40% of South Korea's semiconductor exports, has officially launched the "Semiconductor Mutual Growth Council" in partnership with Samsung Electronics, the country's top two packaging and testing companies, and leading academic and research institutions.
The province declared its commitment to strengthening global competitiveness by building a robust semiconductor industry foundation, nurturing talent, and expanding investment.
On September 11, the province held the inauguration ceremony for the "Chungnam Semiconductor Mutual Growth Council" at Mona Valley in Asan, marking the official start of its operations. The event was attended by approximately 250 participants, including Chungnam Governor Kim Taeheum and Samsung Electronics Vice President Ji Hyeongi.
The council brings together the provincial government, Cheonan and Asan city governments, seven educational institutions including Gongju National University, nine research organizations such as Chungnam Technopark, and 61 companies including Samsung Electronics.
The council will promote initiatives such as hosting industry-academia-research forums, supporting technology and testbeds, producing and commercializing prototypes, planning research and development, nurturing specialized talent, and developing new programs for semiconductor-related departments.
In particular, the province plans to support the growth and management stability of semiconductor companies by developing the Cheonan National Industrial Complex with an investment of 1.6 trillion won, providing 1.3 trillion won in policy funds, and operating a 500 billion won fund. Additionally, it aims to nurture more than 6,000 practical talents within four years to strengthen industry competitiveness.
On the same day, the province signed financial business agreements with Hana Bank, NongHyup Bank, KN Investment Partners, and Gravity Ventures to enhance investment and financial support for semiconductor companies.
Governor Kim Taeheum stated, "The world is currently in the midst of a semiconductor war, and Chungnam is at its center. We will lead South Korea as a semiconductor powerhouse based on four pillars: industrial infrastructure, corporate support, talent development, and the activation of the mutual growth council."
As of 2024, Chungnam's semiconductor export volume stands at 37 billion dollars, accounting for 36.9% of the nation's total semiconductor exports, ranking second after the Seoul metropolitan area.
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