US to Hold 2nd Semiconductor Industry Meeting on the 20th of This Month

Bloomberg Report
Led by Commerce Secretary Gina Raimondo
Including Samsung Electronics and TSMC

[Image source=AP Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] The U.S. government is scheduled to gather semiconductor companies on the 20th of this month to discuss the semiconductor supply shortage issue, Bloomberg reported on the 10th (local time).

Bloomberg reported that Commerce Secretary Gina Raimondo invited semiconductor, automotive, and internet-related companies such as Samsung Electronics, TSMC, Google, Amazon, General Motors, and Ford Motor Company to the meeting.

Bloomberg introduced that the Commerce Department mentioned in the invitation that semiconductor manufacturers and consumer companies were invited to discuss semiconductor and supply chain issues.

The White House, centered on the National Security Council, convened semiconductor companies last month to seek solutions to the semiconductor shortage crisis. President Joe Biden attended the meeting at the time and emphasized the importance of the semiconductor supply chain by holding up a silicon wafer.

The report explained that each company will meet in advance this week to explore the agenda for this meeting. Prior to last month's meeting, Intel announced it would invest $20 billion to build a semiconductor factory in the United States.

Secretary Raimondo also emphasized the importance of solving the semiconductor shortage issue in an interview with CBS the day before. When asked how much she was concerned about the semiconductor supply chain issue, Raimondo said, "It is a significant factor and a serious concern," adding, "There are overall disruptions occurring in the supply chain."

She pointed out, "The area I am particularly focused on is the semiconductor industry," and said, "For decades, we have let the U.S. fall behind and have not produced enough semiconductors domestically."

She stated that President Joe Biden's $50 billion semiconductor investment plan must be coupled with private investments ranging from $50 billion to $100 billion.

As the U.S. goal appears to be expanding semiconductor production domestically, pressure on Samsung Electronics and TSMC to increase their investments in the U.S. is likely to intensify.

The semiconductor shortage is also putting pressure on employment conditions in the U.S. Auto companies reduced employment in April due to the semiconductor shortage, dampening hopes for employment growth.

This content was produced with the assistance of AI translation services.