LG Innotek to invest W600b in Gumi plant
LG Innotek said Tuesday that it has signed a 600 billion won ($408 million) investment agreement with North Gyeongsang Province and Gumi City.
The electronics parts maker plans to utilize the investment to expand the mass production lines for flip chip ball grid array and introduce new facilities for the production of high-value camera modules.
The investment period will span from next month to December next year.
Prior to the latest deal, LG Innotek signed an investment agreement with Gumi City in 2022 and made a large-scale investment of 1.4 trillion won in its Gumi operations.
The last investment enabled LG Innotek to acquire Gumi Plant 4, covering a total floor area of 230,000 square meters.
The facility has since been transformed into a key production base for its new FC-BGA business, known as the 'Dream Factory.' Additionally, the company expanded its production lines for mobile camera modules.
Through the additional investment, LG Innotek aims to accelerate the enhancement of its competitiveness in the substrate and optical solution businesses.
It has incorporated cutting-edge IT technologies such as artificial intelligence, robotics and digital twins into the Dream Factory, which officially began mass production of PC-use FC-BGA for global Big Tech clients in December.
Starting this year, LG Innotek will focus on securing additional FC-BGA customers while advancing next-generation substrate technologies, including glass key integration, to grow its FC-BGA business into a multi-trillion-won industry.
To solidify its position as the global leader in camera modules and enhance cost competitiveness in its optical solutions business, LG Innotek plans to operate a dual production system: legacy model products will be manufactured at its Vietnam plant, while high-value camera modules for new models will be produced at the Gumi plant.
"Gumi is a strategically vital hub for LG Innotek's key businesses," said CEO Moon Hyuk-soo. "We will continue investing to create maximum customer value while fostering mutual growth with local communities and partner companies."
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