South Korea's Ministry of Trade, Industry and Energy announced on Friday that four American firms have committed a combined 2.8 trillion won (approximately $2 billion) to projects in the semiconductor, advanced materials, and energy fields.

The pledges were unveiled during a ceremony jointly hosted by the Korea Trade-Investment Promotion Agency (KOTRA) in Washington, D.C., on Thursday, which was attended by South Korean Trade Minister Jeong In-kyo.

According to a ministry press release, US industrial gas supplier Air Products will expand its semiconductor gas production facilities in Pyeongtaek, south of Seoul, under the new commitment.

Chip equipment maker Axcelis plans to increase production of ion implantation systems in South Korea, reinforcing its local plant's role as an export hub for the Asia-Pacific market.

Specialty materials firm Corning will boost its manufacturing capabilities and invest in equipment for advanced materials used in next-generation mobile devices and semiconductors.

Renewable energy company Pacifico Energy intends to develop a 3.2-gigawatt offshore wind project in southwestern Gwangju, located in South Jeolla Province, which is expected to sit within a new semiconductor industrial cluster.

Minister Jeong stated: "The government will provide comprehensive support to help these companies view Korea as an attractive investment destination and use their projects here as a springboard to enter other global markets."