South Korean Company Hanyang Eng USA Plans to Establish U.S. Headquarters in Williamson County Suburb

A South Korean company, Hanyang Eng USA Inc., a known supplier to Samsung Electronics Co. Ltd., is considering establishing its U.S. headquarters in a suburb of Williamson County, Texas. The company has received approval from the Cedar Park Economic Development Type A Board for $450,000 in incentives to aid its move into Building 6 at the Scottsdale Crossing Technology Center.

Hanyang Eng USA Inc. is a subsidiary of Hanyang ENG Co. Ltd., which has been in operation for 41 years and employs approximately 1,100 people worldwide. The company has locations in South Korea, China, Vietnam, and Singapore. It specializes in providing piping solutions for the semiconductor industry and is listed as a supplier to Samsung on the chipmaker’s website.

The decision to establish its U.S. headquarters in Williamson County is a result of the efforts by the Williamson County Economic Development Partnership to attract South Korean businesses to the Austin area. Economic development leaders met with Hanyang Eng during a recent trip to South Korea and subsequently met with the company’s U.S.-based team in Austin, where the company currently lists its U.S. headquarters.

Hanyang Eng USA Inc. expects to grow in parallel with Samsung, as the chipmaker is constructing a massive chipmaking facility in Taylor, another suburb north of Austin. Apart from its semiconductor-related operations, Hanyang Eng aims to expand into the aerospace, environmental, and green energy sectors.

The company has a purchase-and-sale agreement for the site in Scottsdale Crossing, which is strategically located adjacent to Firefly Aerospace Inc., a rocket maker with whom Hanyang Eng hopes to form a partnership. Additionally, Hanyang Eng plans to incorporate desperately needed clean room space at the site.

The approval of the incentives by the Cedar Park Economic Development Type A Board is an encouraging development for Hanyang Eng USA Inc. The incentives include a $250,000 grant to help with the purchase of the building and an additional $200,000 contingent on the company hiring at least 50 employees over time. Economic officials estimate that the investment will be recouped within nine years.

The project aligns with the economic goals set by the Cedar Park City Council, which include the promotion of economic vitality and participation in the Samsung supply chain. This development marks the beginning of what is being referred to as the “Samsung effect” reaching Cedar Park.

Cedar Park, located approximately 20 miles northwest of downtown Austin, is home to several rapidly growing companies, including Firefly and Hyliion Holdings Corp., an electric vehicle trucking company. The recent addition of Hanyang Eng USA Inc. will enhance the city’s reputation as a hub for technology and innovation.

The expansion of Samsung and its supply chain in Central Texas has attracted other companies seeking to establish a presence in the area. LS Electric Co. Ltd. has acquired a significant building in Bastrop, while KoMiCo Technology Inc., a semiconductor equipment parts company, plans to invest at least $30 million in an existing facility in Round Rock. Additionally, Schunk Xycarb Technology Inc. is constructing a 140,000-square-foot site in Georgetown.

Cedar Park Economic Development Director Ben White, who played a significant role in attracting Hanyang Eng USA Inc. to the city, has recently been recognized as a Power Player by the Austin Business Journal. White’s appointment as the head of the Taylor Economic Development Corp. is scheduled for mid-November, where he will replace outgoing leader Mark Thomas.

The Taylor Economic Development Corp., funded by a portion of the city’s annual sales tax, leads economic development efforts for Taylor, a city located approximately 35 miles northeast of Austin.

In conclusion, Hanyang Eng USA Inc.’s decision to establish its U.S. headquarters in a Williamson County suburb is a significant development for the region’s economic growth. With its supply chain connections to Samsung and plans for expansion into new sectors, the company’s presence will contribute to the city’s economic vitality and further solidify Cedar Park’s reputation as a destination for tech companies.