The Ministry of Industry, Commerce and Energy of South Korea said on Friday (23rd) that during the visit of South Korean President Yoon Seok-wyeh to the United States, American and Canadian companies have pledged to invest 1.15 billion U.S. dollars (about 1.62 trillion won) in South Korea’s manufacturing industry to deepen bilateral cooperation in semiconductors, electric vehicle batteries and renewable energy. cooperation in other fields.
It is understood that the investment-related proposals were put forward at the “Investor Roundtable Forum” held in Manhattan on Thursday (22nd) local time. In addition to Yin Xiyue, South Korea’s Minister of Industry Li Changyang also attended. Most of the investors at the meeting came from the fields of semiconductors, electric vehicles, rechargeable batteries and renewable energy.
In terms of semiconductors, Applied Materials (AMAT-US) has expressed its willingness to set up a semiconductor equipment R&D center in South Korea, while chemical giant DuPont (DD-US) and semiconductor material manufacturer Entegri (ENTG-US) have submitted to expand their semiconductor material R&D center proposal.
For the electric vehicle part, auto parts maker BorgWarner (BWA-US) decided to expand its R&D center to develop motors for electric vehicles, while solid-state battery company SES (Solid Energy System) (SES-US) plans to set up a next-generation electric vehicle battery research and development center.
Other investment proposals include a proposal for a wind farm by Canadian renewable energy developer Northland Power and plans for an expansion of an environmentally friendly logistics centre from private equity fund EMP Belstar.
Yin Xiyue first went to England to attend the funeral of Queen Elizabeth II this week, and then went to New York to attend the United Nations General Assembly. After arriving in Canada on Thursday (22nd), she met with Canadian Prime Minister Justin Trudeau yesterday (23rd), and both sides agreed Deepen the partnership on key minerals for electric vehicle batteries.