Incheon: Amkor Technology, a U.S.-based company specializing in chip packaging and testing, is set to enhance its production capabilities in South Korea. This strategic expansion is anticipated to boost the competitiveness of the nation's semiconductor industry, as announced by the industry ministry.

According to Yonhap News Agency, Amkor Technology plans to develop three new production lines and upgrade its semiconductor testing equipment at its facility in Incheon, located approximately 40 kilometers from Seoul. The Ministry of Trade, Industry and Resources highlighted this initiative as a significant step towards reinforcing the local semiconductor ecosystem.

The company's plans also include strengthening partnerships with South Korean sectors involved in semiconductor parts, materials, and equipment. This collaboration aims to fortify the country's chip industry infrastructure, as noted by the ministry.

Amkor's investment strategy was revealed during a global investment partnership event, which took place alongside the Asia-Pacific Economic Cooperation (APEC) meeting in Gyeongju last month. At this event, Amkor, along with six other corporations such as Amazon Web Services and Renault, pledged to invest a total of US$9 billion in Korea over the coming five years.

Deputy Minister for Trade and Investment Kang Kam-chan expressed appreciation for Amkor's commitment to investing in South Korea amidst the growing global competition for leadership in the semiconductor sector.