ATMI, a U.S.-based manufacturer of core materials for semiconductor and display, held a groundbreaking Friday for a factory in Hwaseong City, Gyeonggi Province.

Gyeonggi dispatched a delegation to Washington D.C. in last November to ink a USD 43 million-investment memorandum of understanding (MOU) with ATMI. Under the MOU, the company will invest USD 12 million to build four buildings on a 25,891 square meter-site in Jangan Foreign Investment Zone No. 2 and make additional USD 30 million-investment for the following five years.

ATMI’s investment will generate KRW 220 billion of sales, KRW 400 billion of production and create about 300 jobs. In addition, ATMI’s location in Gyeonggi will ensure the stable supply of core materials for semiconductor and display, making domestic companies competitive in the global market.

ATMI’s management including the CEO Douglas A. Neugold attended the ceremony, attesting to the company’s strong interest in the investment.

Heo Seung-beom, director of investment promotion team of Gyeonggi local government, celebrated the groundbreaking on behalf of Gyeonggi Governor, saying that “We will provide all possible administrative supports for ATMI’s operation in Korea.”

Source: Gyeonggi Local Government (Oct. 12, 2012)

** This is the translation of a Korean article.