Pangyo to host fabless verification, commercialization hub

[Courtesy of Seongnam City]

A new system chip hub that will support fabless companies in verifying and commercializing their chips will open in Pangyo, Seongnam City.

The Ministry of Trade, Industry, and Energy announced on Sunday that Pangyo, which is located just south of Seoul, was selected as the site for the system chip verification support center after a two-month application process. The center will be located at the Seongnam Global Convergence Center in the 2nd Pangyo Techno Valley.

A total of 21.45 billion won ($15.5 million) will be invested in the center from 2024 until 2028, with 15 billion won coming from the central government and 6.45 billion from the local government. The Korea Fabless Industry Association, the Korea Semiconductor Industry Association, the Seongnam Industry Promotion Agency, and the Korea Electronics Technology Institute will also jointly participate in founding the center. The facility will be equipped with advanced verification tools not readily available to small and medium enterprises and hire professional verification personnel.