Kim Dong-yeon Visits Investment Attraction Site as First Destination of 'People's Economy Field Tour'

[Suwon Ilbo=Reporter Kim Gap-dong] Gyeonggi Province Governor Kim Dong-yeon's people's economy field tour 'Dal Dal Bus' (meaning "changes wherever it goes") first stopped at a foreign investment attraction site worth over 100 billion won.

Gov. Kim embarked on the grand journey of a 'people's economy field tour' on the 20th by attending the groundbreaking ceremony for TOK Advanced Materials' Pyeongtaek Poseung plant.

TOK Advanced Materials held its groundbreaking ceremony at a 55,560 square meter (16,807 pyeong) site in Heugok-ri, Poseung-eup, investing a total of 101 billion won to construct cutting-edge semiconductor production facilities including high-purity chemical products and photoresist manufacturing facilities by July of next year.

Photoresist is a 'photosensitive liquid' applied to silicon wafers—disk-shaped raw materials for semiconductors—and is a key material used in drawing semiconductor circuits when exposed to light.

Governor Kim Dong-yeon said, "Semiconductors are cutting-edge strategic industries that determine national competitiveness, and at their center are materials, components, and equipment," and evaluated the significance of the groundbreaking ceremony, saying "we have achieved significant results in making Gyeonggi Province a semiconductor international hub."

This first step had special significance for Gov. Kim. In April 2023, Governor Kim Dong-yeon visited Kanagawa Prefecture in Japan as his first overseas business trip after taking office. At that time, Gov. Kim visited the headquarters of TOK, a world-renowned semiconductor key materials company located in Kanagawa Prefecture, met with CEO Noriaki Taneichi, and successfully concluded an investment attraction business agreement (MOU). The fruit of that endeavor has materialized two years later in the groundbreaking ceremony for the Pyeongtaek Poseung plant.

[Significance of Photoresist Pyeongtaek Plant Groundbreaking]

① Securing Stable Production Base for Key Semiconductor Materials

TOK is the world's top photoresist production company supplying Samsung Electronics, SK Hynix, TSMC, and Intel. TOK Advanced Materials is TOK (Tokyo Ohka Kogyo)'s Korean subsidiary, and once the Pyeongtaek plant is completed, the domestic self-sufficiency rate for photoresist—a key semiconductor material with high dependence on Japan—will expand. Governor Kim Dong-yeon said, "Through securing a stable production base for key materials, we will be able to achieve supply chain stability and improved technological independence."

② Strengthening Completion of 'K-Semiconductor Belt'

Gyeonggi Province is establishing the world's largest semiconductor cluster, connecting semiconductor industry hubs including Pyeongtaek Poseung and Hyunduk districts, Yongin, Icheon, Hwaseong, and Anseong. The Poseung and Hyunduk districts serve as the west coast gateway and advanced materials hub of the semiconductor belt. Today's groundbreaking ceremony is interpreted as stepping on the accelerator toward the 'K-Semiconductor Belt.' Gov. Kim also said, "From the perspective of strengthening the completion of the K-Semiconductor Belt, (today's groundbreaking ceremony) holds very great significance."

③ Improving Quality of Life for Residents

The over 100 billion won investment attraction by TOK Advanced Materials is evaluated as bringing the governor's promised '100+ trillion won' investment attraction during his tenure one step closer.

Gov. Kim stated, "Since taking office as governor, I promised to attract 100 trillion won or more in investment, and we have currently achieved 91 trillion won," and revealed, "We expect to achieve the target ahead of schedule in about two months." He added, "I believe (investment attraction) will contribute to activating jobs in Gyeonggi Province and ultimately improving the quality of life for residents."

Approximately 100 people attended the groundbreaking ceremony for TOK Advanced Materials' Pyeongtaek Poseung plant, including Governor Kim Dong-yeon, Pyeongtaek Mayor Jeong Jang-seon, TOK CEO Noriaki Taneichi, TOK Advanced Materials CEO Kim Ki-tae, and SK Hynix and Samsung C&T; executives.

Gov. Kim responded, "CEO Noriaki Taneichi mentioned plans for a second plant following the first one during his remarks and requested active support from Gyeonggi Province and Pyeongtaek City. I will provide that answer today. Gyeonggi Province and Pyeongtaek City will spare no effort in administrative and policy support," and added, "As a member of the Korean semiconductor ecosystem, I hope you will play an increasingly larger role."

[After Poseung Plant Groundbreaking Ceremony: Responding to Tariffs with Small and Medium-sized Enterprises at Pyeongtaek Port]

The concept of Governor Kim Dong-yeon's people's economy field tour consists of ① listening ② communication ③ problem-solving.

After concluding the groundbreaking ceremony for TOK Advanced Materials' Poseung plant, Gov. Kim moved to the Marine Center at Pyeongtaek Port following lunch to meet with automotive and parts company officials. Following 'semiconductors' came 'tariffs' as the first topic of this grand journey.

On March 31st, Gov. Kim met with the automotive industry at Pyeongtaek Port—expected to receive direct blows from the U.S. automotive tariff announcement—to listen to grievances and subsequently initiated preemptive responses by convening an emergency economic meeting for Gyeonggi Province.

On April 10th, he traveled directly to the United States and met with Michigan Governor Gretchen Whitmer, successfully reaching a four-point agreement including establishing channels between Korean parts companies and U.S. automotive companies.

Shortly after returning from the U.S. business trip, on April 15th, he invited the business leaders from the March discussion to his office to share outcomes and pursue further discussions.

Subsequently, Gyeonggi Province provided an additional 5 billion won in special management funds to small and medium-sized enterprises within the province expected to suffer from U.S. tariff impacts, expanding total support to 10 billion won.

On this day, Gov. Kim plans to once again 'listen' to the automotive industry's current situation following the conclusion of U.S. tariff negotiations, 'communicate' with stakeholders, and seek 'solutions' such as additional support measures.