The work for a semiconductor valve production factory of V TEX Corporation Korea (President Oda Hisataka) has been completed in the Oseong Industrial Complex in Pyeontaek.

100-plus people attended the work completion ceremony, which was held at 11:00 AM on March 21. Some of those in attendance included the following people: Gyeonggi Governor Kim Moon-soo, Pyeongtaek Mayor Kim Sun-ki, Chairman Maeda Yasuhiro of V TEX Corporation of Japan, and President Oda Hisataka of V TEX Corporation Korea.

V TEX Corporation Korea is a local corporation that was established in Korea in April 2012 by the V TEX Corporation of Japan, which is a wholly owned company of Hitachi Zosen.

In July 2012, V TEX Corporation signed an MOU for investment with the Gyeonggi Provincial Office (GPO) for the production of super/high vacuum valves and rupture discs in Korea. Work was started in the same month based on the judgment that the Oseong Industrial Complex offered many factors, including proper surroundings and reasonable lease rates, which were conducive to attracting investments from foreign business.

V TEX Corporation’s investment amounts to about USD 10 million and the company is expected to hire 150-plus Korean employees. V TEX Corporation ranks as being the world’s No.2 and No.3, respectively, in terms of capturing the world market share for super/high vacuum valves and rupture discs. The company is widely recognized as having the world’s No.1 technology and competitiveness in production quality. Its main customers are Samsung, LG, and SK Hynix.

It is expected that the company’s investment that has been made this time will result in import/export substitution effects worth more than KRW 30 billion by 2016. In many cases, vacuum valves are replaced by products made by foreign manufacturers during the period of operation and maintenance of valves due to the problem of reliability. Their being produced in Korea will lead to considerable import substitutions effects. At the same time, joint ventures by Japanese businesses with relevant businesses in Korea are expected to bring about diverse positive results, including the enhancement of the level of domestic technology and price competitiveness.

V TEX Corporation was established in 1945 and garnered JPY 3 billion in annual sales in 2012. It has 160 employees.