ASE, a global No.1 semiconductor packaging and test company, held a groundbreaking Wednesday for its factory in Munbal Industrial Complex.

The Taiwan-based company inked a 1.1895 trillion won-investment memorandum of understanding with Paju in Gyeonggi Province in mid-February to establish two factory buildings on a 27,433 square meter-site in Paju.

The factory is expected to create 2,325 jobs by 2020, which is the largest employment by investment from a manufacturing company during the term of Gyeonggi Governor Kim Mun-su.

In addition, the factory will generate substantial amount of economic benefits including direct production worth 4 trillion won, indirect production worth 2.9 trillion won, added values worth 900 billion won and tax revenues worth 70 billion won. The investment from the global leading semiconductor manufacturer will lead to technology transfer, contributing to developing domestic system semiconductor manufacturers.

Given that Gyeonggi is home to Korea’s leading semiconductor companies including Samsung and SK Hynix, ASE’s decision to invest in the province will strengthen Gyeonggi’s status as a semiconductor industrial hub.

Source: Gyeonggi Local Government (Sep. 25, 2012)

** This is the translation of a Korean article.