Six Korean chip firms to cluster near Samsung’s Texas plant

Kim Hak-jae, CEO of iMarketKorea

A cluster of Korean companies is following Samsung Electronics to Texas, establishing a massive industrial hub near the tech giant’s new chip plant. Six firms with a combined annual revenue of 5 trillion won ($3.4 billion) have signed memorandums of understanding (MOUs) to join the upcoming Gradiant Technology Park (GTP) project — billed as the first-ever “K-industrial complex” in the United States.

“GTP is designed as a one-stop base for Korean companies entering the U.S. market, providing everything from land acquisition and infrastructure support to permits,” said Kim Hak-jae, CEO of iMarketKorea, in an interview with Maeil Business Newspaper on Monday. “Until now, Korean firms have entered the U.S. individually, but the absence of a dedicated industrial complex caused inefficiencies. GTP will change that by letting them focus solely on their core operations.”

Founded in 2000, iMarketKorea specializes in B2B procurement of maintenance, repair, and operations (MRO) supplies. The company is spearheading the 86 square-meter GTP development in Taylor, Texas — located just a 10-minute drive from Samsung’s semiconductor plant, set to begin operations next year. Construction of the first 290,000-square-meter phase of the park begins Tuesday, with completion scheduled for the fourth quarter of 2026.

The park’s strategic location near Samsung’s Taylor chip factory and Tesla’s Gigafactory has drawn strong interest from semiconductor and secondary battery suppliers. “Given its proximity to major global manufacturing hubs, GTP will become a forward base for Korean companies entering the North American market,” Kim said.

More than 200 Korean firms from sectors including semiconductors, cosmetics, and medical devices attended a recent investor briefing. GTP offers advantages such as legal, accounting, and consulting services, along with strong logistics connectivity via Interstate Highways 10 and 35, U.S. Route 79, and Union Pacific and BNSF freight railroads. iMarketKorea also bolstered its logistics capability by acquiring international freight company BTL Logistics in 2023.

Texas’s favorable tax policies add to the appeal. The state levies no corporate income tax and imposes a franchise tax capped at 1 percent. In April, Taylor Economic Development Corporation signed an agreement with iMarket America, iMarketKorea’s U.S. subsidiary, to offer investment incentives such as sales tax exemptions on construction materials, expanded wastewater pipelines, and transportation infrastructure support.

iMarketKorea purchased the GTP site for $60 million between December 2022 and March 2023, anticipating strong demand following Samsung’s 2021 announcement of its Taylor plant.

Kim said the company initially planned to provide only basic logistics support and construction material supply, but Lee Ki-hyung, chairman of Gradiant (formerly Interpark), emphasized the need for comprehensive services for companies, which led to the project’s expansion into a large-scale industrial complex. Gradiant acquired iMarketKorea in 2011.

The industrial complex will be developed in three phases — to be completed by 2027, 2029, and 2031 — with a total project cost in the hundreds of millions of dollars.

Kim aims to attract over 50 global companies within five years, focusing on semiconductor materials, bio, medical equipment, and EV components. “With the U.S.–Korea trade agreement boosting $200 billion in direct investment, GTP will serve as a critical bridge for Korean firms entering the American market,” he added.