Onsemi will invest approximately KRW 1.4 trillion by 2025 in research and production of SiC (silicon carbide) semiconductors in Bucheon, Gyeonggi Province, and will take the lead in the early market for SiC power semiconductors and create an industrial ecosystem.

On the 7th, Gyeonggi Province, Bucheon City, and Onsemi signed an investment memorandum of understanding and held a groundbreaking ceremony for a manufacturing facility at the Onsemi Korea headquarters in Bucheon with the attendance of Gyeonggi Province Governor Kim Dong-yeon, Bucheon Mayor Cho Yong-ik, and Onsemi Chief Operating Officer Wei-Chung Wang.

About 190 people attended the event that day, including National Assembly members Kim Kyung-hyeop and Seo Young-seok, Onsemi Korea CEO Kang Byeong-gon, Provincial Assembly member Yeom Jong-hyeon, and City Assembly member Lim Eun-bun.

Onsemi plans to invest KRW 1.4 trillion in Bucheon by 2025 to research and develop silicon carbide (SiC) power semiconductors and establish a manufacturing facility capable of immediate production, creating approximately 500 new jobs.

In addition, starting with this investment, we plan to purchase materials, equipment, and parts necessary for producing power semiconductors from domestic companies worth over KRW 350 billion, and continue to cooperate with domestic small and medium-sized partner companies.We plan to strengthen our position as an enemy.

According to the 'K-Semiconductor Strategy' announced by the Ministry of Trade, Industry and Energy in May of last year, silicon carbide (SiC) is designated as a national strategic industry that must secure the initial market as a next-generation power semiconductor new material. Silicon carbide is strong against high voltage, high power, and high temperature, and is excellent for product weight reduction, so the world's leading electric vehicle manufacturers are also showing great interest.

European countries also participated in the competition to attract Onsemi's next-generation power semiconductor research institute. Gyeonggi Province actively led investment negotiations, including by offering incentives for foreign direct investment, and Bucheon City quickly enacted an ordinance to promote corporate investment and jointly promoted customized attraction activities.

As a result, Onsemi promised an investment of 1.4 trillion won and decided to promote the localization of materials, parts, and equipment worth 104 billion won by 2024.

Onsemi's investment is the largest amount of overseas investment that Gyeonggi Province has attracted in the semiconductor sector over the past 12 years.

Gyeonggi Province Governor Kim Dong-yeon said, “It’s been five working days since I took office as the governor of Gyeonggi Province, and I’ve spent three of those days on semiconductor-related schedules,” adding, “Yesterday, we achieved the great feat of having the future research centers of the world’s top four companies established in Gyeonggi Province, and today, I’m very happy that Onsemi has decided to make a huge investment of KRW 1.4 trillion.”