ATIC, KSIA to partner on new initiatives

ABU DHABI, UAE: The Advanced Technology Investment Co. (ATIC) of Abu Dhabi and the Korea Semiconductor Industry Association (KSIA) recently signed a memorandum of understanding in which the two parties will explore potential areas of collaboration in the semiconductor industry. The agreement was signed in Abu Dhabi, by Ibrahim Ajami, CEO of ATIC and by Dr. Jun-Cheol Yang, CEO of KSIA.

ATIC, a technology investment company focused on making significant investments in the advanced technology sector, is the majority investor in GLOBALFOUNDRIES, the world’s first truly global semiconductor manufacturing company. GLOBALFOUNDRIES has operations in the United States, Asia and Europe, with over 150 global customers.

KSIA is the advisory association behind the Korean semiconductor industry, a major economic pillar of the Korean economy, representing the interests of a variety of Korean semiconductor companies including Samsung and Hynix.

“South Korea’s semiconductor industry is tremendously innovative and is an amazing source of talent and insight,” said Ibrahim Ajami. “We look forward to exploring shared development and commercial opportunities as we advance ATIC’s goal of becoming an industry leader and strengthening Abu Dhabi’s advanced technology sector.”

“ATIC’s investment in GLOBALFOUNDRIES is propelling some of the leading advances in the industry,” said Dr. Yang. “As we begin to see recovery in this industry, we are very excited to be collaborating with this major industry partner, with its long-term perspective and global viewpoint.”

The agreement will allow ATIC and KSIA to explore cooperative partnerships with leading companies in each other’s markets, as well as global companies located in the UAE and Korea. With significant intellectual capital and a shared financial interest in the semiconductor industry, the ATIC and KSIA partnership will also explore further technology education and public/private technology advancement.

Under the MoU, ATIC and KSIA will evaluate potential development and commercial projects, including semiconductor-related research and development programs; technology trends and industrial policy seminars; collaboration between UAE and Korean companies to further competitiveness and investment; and education-related exchanges between the students and faculty in various UAE and Korean universities and associations.

KSIA currently manages periodic meetings with semiconductor associations from the US, Japan, China, EU and Taiwan, furthering global co-operation through global semiconductor trade promotion and protection of both of environment and intellectual property rights.