On Sept 3, a signing ceremony was held at the Zhangjiagang Korean Industrial Park to commemorate the establishment of South Korean company Aerospace & Semiconductor Flow's (ASFLOW) ultra-clean module and system integration project for semiconductor equipment.
ASFLOW, a global leader in the semiconductor industry, has committed a total investment of $150 million to this newly signed project, which is set to focus on the production of essential components for semiconductor facilities and equipment. The initial phase is projected to yield annual sales of 800 million yuan ($112.99 million) within five years, with the expectation of reaching an annual revenue of 1.5 billion yuan once fully operational.
Han Wei, Party secretary of Zhangjiagang, expressed the local government's unwavering commitment to extending comprehensive support throughout the project's development. He emphasized the city's commitment to fostering a market-oriented, law-based, and internationalized business environment, aiming to attract more enterprises and achieve shared success.
Doo-hong Kang, the chief executive officer of ASFLOW, emphasized the company's confidence in the venture, citing the abundant potential of China's semiconductor market. He also highlighted the superior business environment in Zhangjiagang, underscoring its role in strengthening ASFLOW's resolve. Furthermore, he outlined the company's intention to actively draw upstream and downstream enterprises to Zhangjiagang, supporting the city's evolution into a competitive semiconductor industry hub and fostering a mutually beneficial partnership.
Located in Fenghuang town, the Zhangjiagang Korean Industrial Park serves as a key platform for South Korean enterprises. It is home to over 40 South Korean companies, including Hyundai WIA, Kookil Paper, and Kolon Glotech, having formed an industrial cluster focused on high-end equipment, auto parts, and biopharmaceuticals.
A view of the Zhangjiagang Korean Industrial Park. [Photo/WeChat account: zhangjiagangfabu365]