Several South Korean semiconductor and autonomous driving technology firms are exploring entry into Yancheng, a major industrial city in China’s Jiangsu Province, signaling a potential new phase of high-tech cooperation between the two countries.
On July 30, nine Korean companies—including semiconductor design firm SkyChips, power semiconductor company JMZeco, and autonomous vehicle startup SWM—attended an investment promotion event in Yancheng. The forum, part of the “Venture into China: Korea Innovation Roadshow,” was organized by China’s Ministry of Commerce and aimed to promote partnerships between Korean tech firms and Yancheng’s local development agencies.
The companies delivered investor presentations and toured the city’s industrial zones to assess the local business environment. SK On, which already operates in the region, shared insights into Yancheng’s infrastructure and business climate based on its on-the-ground experience.
Yancheng, home to roughly 8.1 million people, has become a hub for South Korean investment. More than 1,000 Korean firms, including SK On, Kia, and Hyundai Mobis, currently operate there. The city has also signed friendship city agreements with 12 South Korean local governments and has attracted over $13 billion in cumulative foreign investment.
Yancheng is actively seeking to attract more Korean companies, offering incentives and R&D support through its Korean-Chinese industrial park and tech-focused economic development zone. The city is building out advanced industrial clusters in sectors like electronics, semiconductors, AI, solar energy, and electric vehicles—with Korea positioned as a strategic partner.
SkyChips, founded in 2020, specializes in system-on-chip (SoC) design for low-power communications and high-efficiency power applications. The company is an official IP partner of Samsung Foundry and counts domestic giants like ABOV Semiconductor and SOLUM among its strategic investors.
JMZeco, established in 2018, develops silicon carbide (SiC)-based power semiconductors, used in EVs and industrial power systems. The firm owns core IP related to its technology and supplies both domestic and international clients.
SWM, founded in 2019, is a startup developing AI-based autonomous driving systems. It was the first company to launch a commercial robotaxi service in Korea and is now piloting unmanned shuttles and logistics robots in the Seoul metro area.
Yancheng authorities expressed optimism about the outcome of the forum, citing growing interest from Korean firms. The Yancheng Economic and Technological Development Zone is strengthening incentives and support to attract Korean R&D and manufacturing operations and aims to create a globally competitive electronics and information technology hub in partnership with Korean firms.
“This event provided an opportunity to identify areas of complementary strength between China and Korea,” said a Yancheng spokesperson. “We hope Korean companies will choose Yancheng as a base for building internationally competitive industrial clusters.”
