Citibank Korea, Korea Eximbank back KoMiCo's US chip expansion with $100 mil. financing
Hwang Jae-won, front row third from left, head of commercial banking at Citibank Korea, poses with executives from KoMiCo and the Export-Import Bank of Korea during a ceremony at KoMiCo headquarters in Seoul, Monday. Courtesy of Citibank Korea
Citibank Korea said Tuesday that it will jointly provide a $100 million syndicated financing package with the state-run Export-Import Bank of Korea to support semiconductor equipment parts maker KoMiCo’s expansion in the United States.
KoMiCo is known for its precision cleaning and advanced coating technologies for semiconductor equipment components, supplying essential parts and services for increasingly sophisticated chip production. The company counts major global chipmakers among its key clients.
The funding will support facility expansion and operations at KoMiCo’s U.S. subsidiaries in Austin, Phoenix and Hillsboro, Oregon — key semiconductor clusters located near manufacturing sites operated by leading chip companies.
According to Citibank, the investment is expected to strengthen KoMiCo’s foothold in the U.S. while also helping bolster the position of Korean suppliers within the global semiconductor value chain.
Beyond the latest financing support, the lender has also assisted KoMiCo’s overseas expansion growth in markets including Taiwan, Singapore and the Czech Republic by leveraging Citigroup’s global network.
“This financing demonstrates meaningful collaboration between policy finance and private-sector finance. It is particularly significant in helping domestic companies establish overseas production bases and expand their global operations,” said Hwang Jae-won, head of commercial banking at Citibank Korea.