Press release
Lam Research Announces New Technology Center in Gyeonggi-do, South Korea
Center to reposition South Korea as a tech powerhouse FREMONT, Calif. & GYEONGGI-DO, South Korea--(BUSINESS WIRE)-- Korean government officials from the
About this update from Lam Research Corporation
[{"type":"text","content":"\nCenter to reposition South Korea as a tech powerhouse \n\n FREMONT, Calif. & GYEONGGI-DO, South Korea--(BUSINESS WIRE)--\nKorean government officials from the Gyeonggi-do province and executives at Lam Research Corporation (Nasdaq: LRCX), a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry, both signed a memo of understanding (MOU) to establish the Korea Technology Center (KTC), a research and development facility with a focus on key equipment for semiconductor manufacturing processes.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190927005117/en/Gov. Lee and Timothy M. Archer, president of Lam Research (Photo: Business Wire)\n\nThe initial investment of $50 million from Lam Research will provide engineers with premium equipment for semiconductor manufacturing processes. The KTC will join Samsung Electronics, located in the cities of Giheung, Hwaseong, and Pyoengtaek and SK Hynix, located in Icheon and Yongin are all in the Gyeonggi-do province and the addition of the KTC will help form the world’s largest semiconductor cluster.\n\n\n“The success of Lam Research in Gyeonggi-do is a success for our business and economy, and it’s a great help for our citizens. Therefore, I will organize a ‘dedicated department’ to do our best to support them. They will experience the promptness of the Gyeonggi-do administration. I hope for the success of Lam Research for the local economy of Gyeonggi-do,” said Gyeonggi-do Gov. Lee Jae-myung.\n\n\nTheir new technology center will create over 300 new engineering jobs while providing a localized space to support necessary equipment.\n\n\n“One of the biggest issues in the Korean economy is speeding up the localization of equipment and materials. In this respect, Lam Research’s investment decision will be greatly welcomed by not only Gyeonggi-do but also from all of Korea. I hope we can host manufacturing facilities in addition to the Korea Technology Center in the near future,” said Gov. Lee.\n\n\nGyeonggi Gov. Lee Jae-myung and Timothy M. Archer, president of Lam Research Corporation signed the MOU for the Gyeonggi-do and Lam Research investment. Inhak Suh, Chairman of Lam Research Korea, and his team, were among the 20 people who participated.\n\n\n\"This MOU agreement between Lam Res...