DGFEZ Signed an MOU for an Equipment Expansion Investment in a Semiconductor Materials Factory in its Yeongcheon Industry District. 
- Ace Nanochem Co., Ltd. invests 10 billion, while Ecolab Korea LLC invests 16 million dollars (USD), with 55 new jobs created.
- Contribute to the production of import substitutes for semiconductor materials with the expansion of the equipment as the semiconductor industry booms and the 4th Industrial Revolution on its way.
 
DGFEZ signed an MOU for the semiconductor materials factory equipment expansion investment at Yeongcheon City Hall on May 28 (Fri.) at 14:30. The signing ceremony was attended by the Commissioner Sam Ryong Choi of DGFEZ, Mayor Gimoon Choi of the City of Yeongcheon, Mr. Youngje Cho, the Speaker of the City Council of Yeongcheon, CEO Jonghoon Lee of Ace Nanochem Co., Ltd., and CEO Yanggwon Ryu of Ecolab Korea Co., Ltd.
Ace Nanochem, which was one of the parties of the MOU signed on that day, is the only semiconductor materials company in South Korea that produces colloidal silica, which is used as an abrasive material for semiconductor production. The company is planning to invest 10 billion won over the period from 2021 to 2022 into its existing factory located in the Yeongcheon Industry District of DGFEZ to expand its semiconductor material production line, creating 25 more jobs.
Ace Nanochem has been recognized for its superb technical prowess and quality, including its comprehensive production line covering sodium silicate, which is the raw material for colloidal to the finished products. As a result, the company was named as one of the Gyeongbuk Star Companies and Gyeongbuk Pride Companies (Gyeongbuk) in 2019 and Global Small but Strong Company (Ministry of SME and Startups) in 2020. The company was also awarded the 5 Million Dollar Export Prize in 2020.
The company beefed up its R&D efforts after it was certified as a Technology and Innovation Company by SK Hynix in 2019 and, with this year’s new investment, it is expected that the company would further contribute to the production of import substitutes for semiconductors production and grow into one of the leading semiconductors and nano-materials company of South Korea.
 
Ecolab Korea LLC is an FDI invested and established by a global chemical company, ECOLAB. The company plan to invest USD 16 million dollars in the factory of Ace Nanochem Co., Ltd., located in the Yeongcheon Industry District, over the period from 2022 to 2023, with a view to expand its semiconductors materials line and create 30 more jobs.
 *Ecolab: Chemicals producer, HQ: Minnesota, USA, Founded 1923, Global sales 17 trillion won, No. of employees 27,000 (as of 2019)
Out of more than 100 factories of Ecolab all over the world, Ecolab Korea LLC is one of the six that is capable of producing colloidal silica, which is a very high-profile material in terms of the technology required. According to the company, they decided to enter into a partnership agreement and invest in expanding their facilities due to the superb technical prowess and experience of its South Korean partner, Ace Nanochem Co., Ltd.
 
The Yeongcheon Industry District of DGFEZ is a free economic zone located in Chesin-dong, Bonchon-dong, and Geumho-eup over a site of 1.46 million m2, currently looking for investors in the fields of auto parts, electricity, machinery, metallurgy, and advanced parts and materials industries. After its completion of development in 2013, all of the available lots finally sold out in 2020, and currently, there are 72 tenant companies in the complex in operation