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Zhangjiagang :
IA Korea invests $500 million for auto electronic chip project

ZETDZ signes a strategic cooperation agreement with IA Korea and Datang Telecom Investment Co Ltd to launch an auto electronic chip project on Dec 22.[Photo provided to chinadaily.com.cn]

Zhangjiaggang Economic and Technological Development Zone (ZETDZ) signed a strategic cooperation agreement with IA Korea, a leading electronic chip provider in South Korea and Datang Telecom Investment Co Ltd to launch an auto electronic chip project on Dec 22.

In the project, IA Korea is planning to invest a total of $500 million to in the auto electronic chip project.  $100 million is invested to produce power devices and develop automotive power semiconductor products and $400 million in the second stage is to produce automotive electronic chip, power module, and motor control module, and to add a production line to produce new energy auto system.

Founded in 1993, IA Korea  is engagesd in producing auto semiconductor chip, radio and television communication chips and providing solutions. It has developed into a leading enterprise in auto semiconductor chip industry in Korea.

The cooperation is important towards improving Zhangjiagang's core competitiveness in auto electronic chip industry and helping explore the development model of Zhangjiagang's auto electronic chip industry.

Jin Dong-jin, director of  IA Korea introduces the project and develop plan at the signing ceremony in Zhangjiagang on Dec 22. [Photo provide to chinadaily.com.cn]

Huang Ji, mayor of Zhangjiagang, makes a speech at the signing ceremony. [Photo provided to chinadaily.com.cn]