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Foreign investors 'remain confident in Korea' in New Year, says Kotra president

Published: 07 Feb. 2025, 15:03

LEE JAE-LIM
[email protected]

Fifth from left, Kang Kyung-sung, president of the Korea Trade-Investment Promotion Agency (Kotra), and Lam Research Korea CEO Park Joon-hong, fourth from left, and other officials take a commemorative photo at Lam Research Korea's office in Yongin, Gyeonggi, on Feb. 7. [KOTRA]

The chief of Korea Trade-Investment Promotion Agency (Kotra) visited Lam Research Korea, the Korean subsidiary of the U.S.-based semiconductor equipment maker, in Yongin, Gyeonggi, aiming to boost foreign direct investment (FDI) early in the year.

Kotra President Kang Kyung-sung toured the headquarters on Friday, including a new campus cluster that integrates the existing branch office and new research and development (R&D) facilities that Lam Research opened in October 2024. The company aims to form new partnerships with domestic companies and hire more talent in the surrounding area.

“Koera has strong competitiveness in the semiconductor and multiple other industries,” said Lam Research Korea CEO Park Joon-hong. “Despite ongoing global uncertainties, the chip market is expected to continue growing with advancements in AI. Policy supports are more dire then ever to respond to the rapidly shifting environment.”

Lam Research, founded in 1980, is the one of the largest semiconductor equipment companies globally and established its Korean branch in 1991. Employing around 2,000 workers in Korea, it has expanded investment in the country with establishment of technology support centers, R&D facilities and production plants across Gyeonggi's Yongin, Hwaseong and Osan.

Kang expressed gratitude for Lam Research’s support in the domestic industry and emphasized that “foreign investors remain confident in Korea’s industrial potential and growth prospects,” to continue their planned investments without impediments.

Korea’s FDI for January 2025 totaled $1.35 billion, a 7.14 percent surge compared to the previous three years’ average of $1.26 billion, according to Kotra data.

BY LEE JAE-LIM [[email protected]]