South Korea's SK Hynix Inc., the world's second-biggest memory chipmaker, applied for use of special land for a semiconductor factory in Yongin, Gyeonggi Province on Wednesday.
According to the Ministry of Trade, Industry and Energy said Friday, the South Korean semiconductor manufacturer filed an application for use of special land for an industrial complex with the Seoul Metropolitan Area Readjustment Committee.
"It is rendered necessary to allow an industrial complex to be established in the southern part of Yongin given that the semiconductor industry plays a critical role in the national economy," said the ministry. "There is greater chance of cooperating with the existing companies and acquiring professional staff."
Accordingly, the Seoul Metropolitan Area Readjustment Committee under the ministry, consisting of 20 private-sector experts and government officials, plans to deliberate special quantity provision next month. A designation plan for the site is to be determined this year at the earliest time.
Building construction is scheduled to begin in earnest in 2022 after site work for the project ends in 2021. With 120 trillion won invested in the project, a cluster of semiconductor facilities is expected to attract more than 50 semiconductor companies.
Choong-Hyun Song firstname.lastname@example.org