On July 18, South Korea's Hoimyung Corporation signed a KRW 67.3 billion (approximately USD 48.4 million or CNY 350 million) investment memorandum of understanding (MOU) with the city of Asan to build a new semiconductor glass substrate manufacturing plant. The agreement was formalized in a ceremony at Asan City Hall, with Mayor Oh Se-hyun and Hoimyung CEO Han Chang-ho in attendance.

Under the MOU, Hoimyung plans to construct the facility on a 46,193-square-meter site in Yeok-ri, Yeongin-myeon, aiming for completion by 2028. The plant will support the company's expansion into the semiconductor glass substrate sector—an emerging area critical to advanced chip packaging—and is expected to create approximately 1,200 local jobs.

Founded in 1994, Hoimyung specializes in materials for secondary batteries and precision cleaners for semiconductor and display components. It currently operates four domestic facilities in Cheonan, Gumi, Sacheon, and Suncheon, along with international sites in the U.S., China, Japan, and Vietnam.

Mayor Oh welcomed the investment, stating, “Bringing Hoimyung's glass substrate business to Asan is a meaningful step toward strengthening our city's position as a high-tech hub. We will provide full administrative support to ensure the project's success and help the company grow sustainably in our community.”