Laservall invests $300 million to propel advanced manufacturing and microelectronics innovation in HK

Laservall, a prominent MNC within the Hong Kong Science and Technology Parks Corporation (HKSTP), has announced a groundbreaking investment plan of HKD 300 million over the next five years. This strategic initiative aims to enhance research and development, manufacturing capabilities, and talent cultivation in Hong Kong, reinforcing the city’s role as a pivotal hub for innovation and technology.

At a press event co-hosted with HKSTP, Laservall highlighted its commitment to advancing high-precision laser technology and AI-driven automation, essential for driving innovation in the microelectronics sector. The company specializes in micro laser jet soldering, cutting, and marking equipment, serving major global brands such as Samsung, LG, Tesla, and BYD. With this investment, Laservall aims to double its research and development team by 2026 and increase it sixfold by 2028, signaling its confidence in Hong Kong’s innovation landscape.

Professor Sun Dong, Secretary for Innovation, Technology and Industry, praised Laservall’s investment as a testament to the company’s dedication to innovation and its confidence in Hong Kong’s technology sector. He emphasized the strategic importance of Hong Kong as a “super-connector” between the Mainland and international markets.

Albert Wong, CEO of HKSTP, echoed this sentiment, noting that Laservall’s growth underscores Hong Kong’s robust foundation for cutting-edge innovation. “As the global leader, the company’s continued commitment to R&D and its expansion in Hong Kong further solidify our city as a powerhouse for microelectronics and advanced manufacturing. This milestone is not just a win for Laservall but a significant boost to strengthening our global standing in shaping the future of new industrialisation,” Wong said.

The government is actively supporting the development of strategic industries through programs such as the New Industrialisation Acceleration Scheme (NIAS), New Industrialisation Funding Scheme (NIFS), and the upcoming Pilot Manufacturing and Production Line Upgrade Support Scheme (Manufacturing +). These initiatives aim to diversify the economy and connect local companies to global opportunities.

The HKSAR Government is linking high-potential companies to capitalize on new industrialization opportunities in Hong Kong. In August 2024, a delegation from the HKSAR Government visited Laservall’s Smart R&D and Manufacturing Centre in Korea to discuss support measures and enhance collaboration in innovation and technology between Hong Kong and Korea.

James Kang, Chairman of Laservall, emphasized the company’s commitment to technology-driven innovation. “Our significant R&D investment will enable us to develop tailored solutions for our global clients, driving advancements in AI-driven automation and real-time troubleshooting,” he noted.

Looking ahead, Andrew Kim, CEO of Laservall, highlighted the growing trend of high-precision laser technology in various industries, particularly in camera module production. He characterized Hong Kong as having a “strong financial sector, global connectivity, and direct access to the vast Mainland market.” “This city is an ideal location for high-tech companies to transform their bold ideas into reality,” he remarked.

Laservall also recently established an R&D centre at Science Park, focusing on customizing solutions for sectors beyond mobile phone manufacturing, including automotive and solar energy. This initiative aligns with HKSTP’s mission to drive technological advancements and industry transformation.

With 270 microelectronics-related companies within its ecosystem, HKSTP continues to lead in microelectronics development, offering comprehensive infrastructure that supports the entire product lifecycle. Facilities such as the Microelectronics Centre and specialized labs for hardware and sensors further enhance the region’s appeal as a global innovation hub.