Baekgwang Industry is investing an additional 750 billion won in the Saemangeum Industrial Complex in the second phase, following the 300 billion won in the first phase, and will begin full-scale production of core materials for semiconductors and displays.

Baekgwang Industry, Saemangeum Development Agency, Jeollabuk-do, Gunsan City, and Korea Rural Community Corporation signed an ‘Investment Agreement (MOU) for the Establishment of a Manufacturing Facility for Core Semiconductor Materials’ on the 30th.

This investment agreement is for the establishment of a second plant, following the investment agreement signed by Baekgwang Industry in December of last year to establish a production plant for a key raw material for secondary battery electrolyte salts, with an additional investment of approximately KRW 300 billion, which is 2.5 times the investment amount at that time.

Baekgwang Industry plans to invest a total of KRW 1.5 trillion, including the first investment amount, in Saemangeum and hire approximately 1,000 new employees to start construction of Saemangeum 2nd Plant in Section 6 of Saemangeum Industrial Complex in the first quarter of 2025, and produce key materials necessary for high-performance semiconductors and displays, such as etching gas and silicon precursors.

Baekkwang Industry is a chemical materials company that has been safely producing its main products, caustic soda (NaOH) and chlorine (Cl2), for 70 years. In particular, it produces high-purity chlorine and hydrogen chloride, which are used as materials for semiconductors and displays, and supplies them to Samsung Electronics and others.

Jang Young-soo, CEO of Baekkwang Industry, said, “Baekkwang Industry has successfully prepared secondary battery and semiconductor core material businesses at its core base, Saemangeum, and is contributing to the development of the secondary battery and semiconductor industries.He said, “We will do our best to contribute to strengthening national competitiveness by localizing raw materials and stabilizing the supply chain.”