SEOUL, KOREA - A Gyeonggi Province investment attraction delegation headed by Governor Kim Moon-soo signed a memorandum of understanding (MOU) with Air Products in San Diego in late September.
With the signing of the MOU, Air Products will invest USD 70 million over the next five years to construct facilities on an idle lot at its Neung-dong plant site in Hwaseong City.
Air Products is a producer of industrial gases, including high-purity nitrogen and hydrogen. The company initiated plant construction in January of 2011 and started supplying high-purity nitrogen to Samsung Electronics in October of last year.
With the additional investment, the company will be able to contribute to the growth of Korea’s semiconductor industry, which is one of the country’s core industries, by supplying essential materials needed to make high-value added 10 nano-class NAND flash memory chips.