South Korea has taken a major step forward in its semiconductor ambitions with the completion of its first 8‑inch silicon carbide (SiC) power semiconductor plant in Busan. On September 17, 2025, the Busan Metropolitan Government and IQ Lab Co. Ltd. held a ceremony to officially inaugurate the IQ Lab headquarters and production facility in Jangan‑eup, Gijang‑gun.
This facility is the nation’s first full‑process production factory for 8‑inch SiC power semiconductors, capable of both in‑house manufacturing and foundry services. After test operations slated for the remainder of 2025, full‑scale production is scheduled to begin in 2026. Annual production capacity is expected to reach 30,000 wafers.
Construction began in June 2024, following an investment agreement (MOU) signed in October 2023 between IQ Lab and Busan authorities. Busan supported the project by providing about 5 billion won in investment incentives, moving approvals faster, and aiding licensing processes. The total project cost is around 100 billion won, with the facility covering roughly 8,750 square meters of land and 7,322 square meters of building space.
Beyond manufacturing, the plant aims to bolster local talent: over 200 jobs will be created, and one floor of the office building will host a field campus (RISE) dedicated to power semiconductors, helping Busan and the surrounding Gyeongnam region strengthen its industry‑academia linkages.
Government officials emphasized that this development lays a foundation for localizing advanced SiC semiconductor processes, reducing dependency on imports, and positioning Busan as a future hub for power semiconductor innovation.