In a press statement released Tuesday, Dutch chipmaker ASM outlined its intention to invest $100 million to expand its innovation and manufacturing center in Hwaseong, South Korea, about 28 miles (45 kilometers) from Seoul. This investment aims to respond to the projected increase in demand for semiconductors. Expected to be fully operational by 2025, this strategic expansion will enhance ASM’s capacity for research and product development and significantly boost its manufacturing capabilities.

Currently, ASM employs over 450 staff at the Hwaseong facility. As a part of this expansion, ASM anticipates an increase in its workforce. The existing building, which spans