Woldex to expand semiconductor materials factory in Gumi

North Gyeongsang Province, Gumi city and Woldex signed an investment MOU Thursday at Gumi City Hall to expand a semiconductor materials manufacturing factory.

About 20 people attended the signing ceremony, including Yang Geum-hee, North Gyeongsang Province's vice governor for economic affairs, Gumi Mayor Kim Jang-ho and Woldex CEO Bae Jong-sik.

Woldex plans to invest 260 billion won ($176 million) by 2030 to build a semiconductor materials production facility on roughly 82,500 square meters at Gumi National Industrial Complex No. 5.

The company will begin acquiring the site in the second half of this year, break ground in April next year and bring the first factory online in 2028, with a second-phase expansion to be completed by 2030.

Founded in 2000, Woldex is a Gumi-based specialist in key semiconductor materials and components.

The company produces silicon parts, quartz parts and fine ceramic parts used in the etching process, which inscribes microscopic circuits onto wafers during semiconductor front-end manufacturing. These components are critical consumables that directly affect etching yield and require continuous replacement.

"Building on our strong technological competitiveness, we will complete the founding goal of localizing materials, expand hiring of local talent and cooperative infrastructure, and establish ourselves as a model company contributing to the revitalization of the regional economy," CEO Bae said.

Gumi Mayor Kim said Woldex's large-scale investment demonstrates that Gumi is the ideal location for semiconductor materials, components and equipment companies. "As semiconductor competitiveness is national competitiveness, we will spare no effort in supporting companies to invest and grow with stability," he added.

North Gyeongsang Province Vice Governor Yang said the province would actively support Woldex in its leap to become a global leader, noting that the company — which grew out of Gumi and has earned recognition in world markets — has chosen to make another major investment in the city.