Governor Gretchen Whitmer concluded her investment mission to East Asia March 8, meeting with public and private sector leaders in South Korea.
Article continues below
During the trip, the governor focused on building relationships in key industries to bring jobs and critical supply chains back home to Michigan.
During the mission, the governor opened Michigan’s first-ever Taiwan office focused on securing investments in key industries like automotive, semiconductors, renewable energy and advanced manufacturing to create good-paying jobs.
The governor also announced four new economic development projects coming to Michigan, including LT Precision Michigan, LLC, which is establishing its North American headquarters in Holland, creating 70 new jobs and investing $43.2 million in the local economy.
Last Wednesday, the governor attended the InterBattery Show in Seoul, spending time at the Michigan booth and visiting leading battery manufacturing companies Samsung SDI and LG Energy Solution (LGES).
Both companies have a strong presence in Michigan: Samsung SDI America Inc.’s North American headquarters are in the city of Auburn Hills, and in September 2023, the manufacturer of lithium-ion batteries for the auto industry announced a $41 million investment to double its manufacturing capacity in Auburn Hills to meet customer needs in the automotive sector, creating 368 new jobs.
Meanwhile, LGES announced a $1.7 billion investment in March 2022 to expand operations in Holland – the battery maker’s first major expansion in Michigan since 2010. LGES’ expansion will quintuple the plant’s capacity to help produce battery components as Michigan’s electric vehicle industry grows.
One-third of U.S. battery production and development takes place in Michigan.
Last Thursday, the governor met with companies including SK Siltron and Hyundai Mobis, which both have a presence in Michigan, to discuss the state’s leadership within the semiconductor and automotive manufacturing industries.
In August 2021, SK Siltron CSS announced plans to expand production of silicon carbide wafers. In September 2022, the semiconductor wafer manufacturer celebrated the ribbon cutting at its new manufacturing facility in Bay City.
SK Siltron’s $300 million investment strengthened its commitment to Michigan and further boosted the state’s leadership in the national semiconductor supply chain.
The governor also met with South Korean President Yoon to further build connections between Michigan and South Korea and attended a dinner with the Gyeonggi Provincial Government.
On the mission’s final day in Korea, the governor met with companies including LGES and Hyundai Motor Company to further tout the state’s leadership in automotive manufacturing and the electrification of mobility.
In 2023, Business Facilities ranked Michigan No. 1 for Automotive Industry and EV Investment in its 19th annual rankings report. ■