Cision PR Newswire
Park Systems Celebrates Groundbreaking Expansion to Gwacheon and Yongin
News provided byPark Systems Corp.
Sep 19, 2023, 9:00 AM ET
SEOUL, South Korea, Sept. 19, 2023 /PRNewswire/ -- Park Systems, a leading provider of atomic force microscopy (AFM) and nano-metrology solutions, announced that it is embarking on an exciting phase of expansion. The company broke ground on its new Gwacheon headquarters on September 15, 2023, to continue its growth expanding global footprint in the coming years.
"After 26 years of leasing, thanks to our accelerated growth since our KOSDAQ listing in 2015, we are proud to announce that Park Systems now has its own office building, marking a significant milestone in our journey," said Dr. Sang-il Park, Founder and CEO of Park Systems.
Expansion to Gwacheon and Yongin
Park Systems is set to expand its headquarters and production facilities, starting with Gwacheon in 2026 and followed by Yongin in 2027. The decision to expand is driven by a substantial increase in orders due to the diversification of their industrial AFM product offerings. This expansion will enhance their production capacity and reduce dependence on core component suppliers.
Yongin Semiconductor Cluster Allocation
In a significant development, Park Systems has secured a factory premises allocation within the SK Hynix-led Yongin Semiconductor Cluster. This strategic move positions Park Systems in a key role within this semiconductor ecosystem.
Details of the Expansion
- Gwacheon Headquarters: Construction for the Gwacheon headquarters will commence next month and is expected to be completed by 2026. This facility represents a substantial investment of KRW 64.2 billion, equivalent to approximately 54% of equity capital. The new headquarters will provide a more pleasant and accommodating workspace to meet the needs of its growing workforce as the business continues to accelerate its growth.
- Yongin Manufacturing Center: Park Systems is scheduled to occupy its Yongin production facility as early as 2027 to strategically secure space to accommodate anticipated growth. The company plans to its center covering a land area of 13,216 square meters. This expansion is driven by the significant increase in order volume, and Park Systems has already been expanding its leased space in Suwon, substantially boosting its production capacity.
Diversification and Component Localization
With an annual order amount exceeding KRW 100 billion, Park Systems recognizes the need to further expand capacity beyond this level. The company has diversified its industrial AFM lineup, including extreme ultraviolet (EUV) process products. Additionally, there is a growing sentiment to internally manufacture key components as production volume increases.
Companies entering the Yongin Cluster, led SK Hynix, have the opportunity to build their factories and lease excess space to partner companies. This collaborative approach is expected to reduce production lead times and increase steady income.
"We are excited to embark on this new phase of growth," said Dr. Sang-il Park. "The expansion of our headquarters is a testament to our commitment to supplying the best performing nanometrology solutions, and we are confident that it will help us achieve our goals of growth and innovation."
The expansion of Park Systems represents a significant step forward in its commitment to enable nanoscience and technology advancements and providing cutting-edge solutions to its customers.
About Park Systems Corp. (KOSDAQ: 140860)
Park Systems is a world-leading manufacturer of atomic force microscopy (AFM) and nano metrology systems with a complete range of products for researchers and engineers in the chemistry, materials, physics, life sciences, semiconductor, and data storage industries. Its mission is to enable nanoscale advances for scientists and engineers solving the world's pressing problems and pushing the boundaries of scientific discoveries and engineering innovations. Customers of Park Systems include most of the world's leading semiconductor companies and national research universities in Asia, Europe and the Americas. Park Systems is a publicly traded corporation on the Korea Stock Exchange (KOSDAQ) with corporate headquarters in Suwon, Korea, and regional headquarters in Santa Clara, California, Mannheim, Paris, Beijing, Tokyo, Singapore, India, and Mexico City. To learn more, please visit www.parksystems.com.
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SOURCE Park Systems Corp.
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