Stemco will invest 150 billion won to expand its production facilities.
North Chungcheong Province said on the 6th that it signed an investment agreement to expand ID-Coil production facilities at the provincial government's Yeoneun Madang, attended by North Chungcheong Governor Shin Yong-han, Cheongju Mayor Lee Jang-seop, and Stemco CEO Uhm Young-ha.
Stemco pledged to invest a total of 150 billion won, including approximately 85 billion won in foreign direct investment, to expand a dedicated production line for ID-Coil, a core component for thin-film power inductors.
ID-Coil is a component that supplies stable power by forming an electromagnetic field in a magnetic chip when power is supplied on the circuit boards of smartphones, tablets, wearables, and automotive infotainment devices.
Stemco plans to construct a 21,770-square-meter (about 6,500-pyeong) production building on a new 47,036.1-square-meter (about 14,000-pyeong) site in the Oksan-myeon area of Heungdeok-gu, Cheongju, and gradually expand its ID-Coil production capacity.
Considering future market conditions and customer demand, Stemco plans to gradually review capacity expansion along with new local hiring.
"We aim to establish a next-generation ID-Coil production base and respond quickly to customer demands through equipment investment and talent recruitment, growing together with the region," Stemco CEO Uhm Young-ha said.
North Chungcheong Governor Shin Yong-han expressed his expectations, saying it "will serve as an opportunity to further solidify the competitiveness of North Chungcheong's semiconductor and electronic components ecosystem."
Stemco is a foreign-invested company established in 1995 as a joint venture between Japan's Toray and Samsung Electro-Mechanics, and has secured technological competitiveness in the field of core components for thin-film power inductors (ID-Coil).
