○ Gyeonggi Province successfully attracts one of its largest foreign investments in the manufacturing sector
– Establishment of hydrogen stations and industrial gas facilities in Gyeonggi Province; investment of USD 1.5 billion
– Prioritized employment of Gyeonggi Province residents to boost regional economy; expected to create more than 60 jobs
○ Governor Lee Jaemyung: “Companies are the backbone of the market economy and growth is realized by companies… Gyeonggi Province always welcomes investments and will provide all possible administrative support…”

Global industrial gas company Linde will invest USD 1.5 billion (KRW 1.7 trillion) in Gyeonggi Province for the installation of hydrogen stations and industrial gas facilities. This is the largest investment among the foreign investments attracted by Gyeonggi Province this year.

Gyeonggi Province Governor Lee Jaemyung, Pyeongtaek City Mayor Jung Jang-seon, and Linde Korea Chairman Seong Baek-seok signed an investment agreement on joint cooperation for the establishment of hydrogen stations and industrial gas facilities. The signing took place at the Gyeonggi Provincial Government Complex on June 16, with Linde COO Sanjiv Lamba taking part in the event virtually from the US.

Governor Lee said, “Gyeonggi Province is the center of the world’s semiconductor industry. Our international competiveness in the semiconductor industry is expected to greatly benefit from the establishment of an industrial gas supply system.” He added, “With the global climate crisis already upon us, there is a need for a massive transition in energy. I am confident that Linde, Gyeonggi Province, and Pyeongtaek will cooperate for the benefit of all.”

Governor Lee continued, “The world is going through a phase of low-growth, and the number of jobs is an especially critical issue. Companies are the backbone of the market economy and growth is realized by companies.” He stressed, “Gyeonggi Province always welcomes investments and will provide all possible administrative support for the successful establishment of companies.”

Pyeongtaek City Mayor Jung said, “The world’s largest semiconductor complex, the Samsung Electronics Pyeongtaek Campus, is currently being constructed in Pyeongtaek. Supporting the successful completion of this project is one of Pyeongtaek’s leading mandates, and so we greatly appreciate Linde’s contribution.” He added, “The many buses, trucks, and ships that use Pyeongtaek Port will have to prepare for the hydrogen era. I look forward to our continued cooperation in this area for the realization of an eco-friendly generation.”

Linde COO Sanjiv Lamba responded, “I appreciate the fact that our company is continuously developing with the tremendous amount of support and cooperation provided by Gyeonggi Province since the launch of our Giheung Plant in 1980.” He added, “While Gyeonggi Province is engaging in preemptive measures for conversion to clean energy, Linde already possesses global competiveness in all hydrogen areas. Based on our partnership, we will continue our investments for mutual development.”

Based on the investment agreement, Linde will invest the amount of USD 1.5 billion for the establishment of hydrogen stations and industrial gas facilities in Gyeonggi Province. It will lead the creation of the hydrogen ecosystem in main cities of Gyeonggi Province through the installation of gas and liquid hydrogen stations. In addition, gas facilities will be constructed at the Linde Pyeongtaek Plant in Godeok-myeon of Pyeongtaek City to provide key customers in the system semiconductor industry with a stable supply of industrial gases. Such gases are used in almost all industries, including semiconductors, electronics, and petrochemistry. They are especially vital in increasing semiconductor yield (productivity) through the prevention of oxidation and contamination.

To facilitate the success of Linde’s investment, Gyeonggi Province and Pyeongtaek will support administrative matters and resolve related issues.

Gyeonggi Province expects that the establishment of industrial gas facilities by Linde with the associated stable supply of gas to key customers will greatly assist Korea in maintaining its position as a world leader in the semiconductor industry. The province also anticipates that Linde’s hydrogen-related technologies will contribute to the expansion of the hydrogen ecosystem. Linde will also prioritize the employment of Gyeonggi residents, potentially creating 60 or more new jobs and boosting the local economy.

Established in 1897, Linde is a global industrial gas company with annual sales of USD 28 billion. It supplies industrial gases and related equipment in various manufacturing fields including semiconductors, petrochemistry, F&B, and advanced displays.