STOCKS | South Korea Announces $2 Billion Investment Pledges From Four U.S. Companies

South Korea said four U.S. companies have pledged to invest a combined 2.8 trillion won, or about $2 billion, in semiconductors, advanced materials, and energy. According to Sina Finance, the pledges were announced at a ceremony co-hosted by KOTRA in Washington on Thursday local time, with Industry Minister Kim Jung-kwan in attendance. The ministry said Air Products will expand its semiconductor gas production facility in Pyeongtaek, south of Seoul. Axcelis plans to expand ion implantation system production in South Korea, while Corning will boost capacity and invest in advanced materials equipment for next-generation mobile devices and semiconductors. Pacifico Energy plans to develop a 3.2-gigawatt offshore wind project southwest of Gwangju in South Jeolla Province.