The Ministry of Trade, Industry and Energy announced on the 12th that Park Jeong-seong, Director of the Trade and Investment Office, visited the Cheongju plant of Nepes Co., Ltd., a semiconductor packaging manufacturer, to award certificates to companies returning to Korea.
After hearing Nepes's investment plan, Director Park inspected the production site and the proposed investment site, listened to any challenges encountered during the repatriation process, and discussed government support measures for companies returning to Korea.
Nepes is a comprehensive back-end foundry specializing in the complete supply chain for system semiconductors and possesses key strategic technologies for the material, part, and equipment sector.
Nepes plans to expand its production facilities at the idle site of its Cheongju plant in North Chungcheong Province to expand its production capacity for domestic and international semiconductor companies.
Amid accelerating global supply chain restructuring, the government is actively promoting the repatriation of cutting-edge and core supply chain companies to establish Korea as a global supply chain hub and stimulate domestic investment.
Accordingly, Nepes' investment in the Cheongju plant is expected to contribute to the national economy by revitalizing the local economy through new jobs, expanding exports, and stabilizing the supply chain.
Park Jeong-seong, Director of the Trade and Investment Office, emphasized, "The return of key materials, components, and equipment companies to Korea has significant economic benefits in terms of investment, employment, and exports, and is crucial for stabilizing the domestic supply chain." He added, "The return of leading companies like Nepes is particularly encouraging amidst intensifying global technological competition."
He added, "The government plans to fully support the return of companies to Korea through institutional improvements."
Inquiries: Overseas Investment Division, Investment Policy Bureau, Ministry of Trade, Industry and Energy (044-203-4069)
[Source] Korea Policy Briefing (www.korea.kr)