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EYEQ Lab is set to construct South Korea's first 8-inch silicon carbide (SiC) power semiconductor manufacturing plant, with mass production slated for the second half of next year. The groundbreaking ceremony took place on June 5th at Busan's power semiconductor specialized complex, attended by Busan's Mayor Park Heong-joon and South Korea's Vice Minister of Trade, Industry, and Energy Kang Kyung-sung.

The plant's construction follows an MOU signed with Busan eight months ago. EYEQ Lab is investing 100 billion KRW (approximately 72.5 million USD) into the 2,600 pyeong (approximately 8,600 m² or 92,516 ft²) site, aiming to produce 30,000 SiC wafers annually. The project is expected to create over 300 jobs and boost annual sales by 300 billion KRW (approximately 217 million USD).

SiC power semiconductors are extensively used in electric vehicles, charging systems, power grids, storage devices, and renewable energy. The SiC semiconductor market is projected to reach 15 trillion KRW (approximately 10.9 billion USD) by 2030. However, South Korean consumers currently rely on foreign companies like Infineon, STMicroelectronics, Wolfspeed, and ROHM for these semiconductors.

EYEQ Lab is also considering a second plant by 2026. CEO Kim Kwon-jae expressed gratitude for Busan's support and aims to expand the company to 5,000 employees. The company recently secured 25 billion KRW (approximately 18.1 million USD) in a Series B funding round, with an IPO planned for late 2025.

Editor：Lulu

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