Daegu-Gyeongbuk Free Economic Zone Authority

Vol.24_ Newsletter - Telechips Inc. signs investment agreement to establish a re

2023-04-13 00:00:00

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Telechips Inc. signs investment agreement to establish a research institute in Suseong Medical Industry Zone in Daegu.

On January 13th, Choi Sam-yong, Director of Daegu-Gyeongbuk Free Economic Zone, Hong Joon-pyo, Mayor of Daegu, and Lee Jang-kyu, CEO of Telechips Inc., the first overseas semiconductor company in Daegu, attended the signing ceremony of an investment agreement to establish a research institute in Daegu between Telechips Inc. and Daegu City.

Telechips Inc., established in 1999, is a leading domestic vehicle semiconductor design company that supplies semiconductor components to world-renowned brand vehicles in not only Korea but also Europe and Japan.

Under this agreement, Telechips plans to invest KRW 33.7 billion by 2025 to establish a research institute in Suseong Medical Industry Zone on a 1,039.8 square meter (315 pyeong) site. The institute will include a software and algorithm development department with more than 100 specialized personnel, and will pursue projects such as developing communication chips for vehicles and next-generation intelligent semiconductors based on AI technology.