Park Systems celebrates expansion plans following order spike due to product diversification
"The expansion of our headquarters is a testament to our commitment to supplying the best-performing nano-metrology solutions."
Park Systems has announced its upcoming expansion plans. The atomic force microscopy (AFM) and nano-metrology solutions provider is opening a new headquarters in Gwacheon, as well as a manufacturing centre in Yongin. According to Park Systems, the move is expected to help the company continue its global growth in the future.
Key information:
- Park Systems has announced its future expansion plans.
- The nano-metrology solutions provider is aiming to open two new sites in Gwacheon and Yongin.
- Additionally, the company will benefit from its new location in the Yongin Semiconductor Cluster, which promotes collaboration and boasts improved production lead times.
The Gwacheon headquarters is expected to open in 2026, while the production facility at Yongin is expected to be finished the following year. According to Park Systems, the company is expanding due to the “substantial increase in orders” due to the diversification in the nano-metrology specialist’s industrial AFM product offering. The expansion will hopefully increase the company’s production capacity, while also reducing the dependency on core component suppliers.
"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.
The AFM solutions provider has secured a factory premise allocated within the SK Hynix-led Yongin Semiconductor Cluster, which provides Park Systems with a key role within this particular semiconductor ecosystem.
Companies located within the Yongin Cluster have the opportunity to build factories and lease excess spaces to partner companies. It is believed that this collaborative approach allows for reduced production lead times while increasing steady incomes.
"We are excited to embark on this new phase of growth," said Park. "The expansion of our headquarters is a testament to our commitment to supplying the best performing nano-metrology solutions, and we are confident that it will help us achieve our goals of growth and innovation."
Key information about the new facilities:
- Gwacheon Headquarters: The facility will receive a substantial investment of KRW 64.2 billion (equivalent to 54% of equity capital, approximately). It is believed the new location will provide a more accommodating workspace that will meet the needs of the growing workforce.
- Yongin Manufacturing Centre: The new facility is expected to cover a land area of 13,216 square metres, approximately. As demand continues to rise, Park Systems has been expanding its leased space in Suwon but believes relocating will better meet its customer demands.