White House Invites Samsung Electronics Day Before Korea-US Summit... Investment Announcement Anticipated

Meeting with Major Semiconductor Companies on the 20th
Investment Pressure Expected on Samsung, TSMC, and Others
US Companies Also Likely to Present Investment Measures

Gina Raimondo, U.S. Secretary of Commerce, said in an interview with CBS that when asked how much she worries about semiconductor supply chain issues, "It is a critical factor and a serious concern."
[Photo by Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] The U.S. government will convene major semiconductor companies on the 20th, the day before the first in-person Korea-U.S. summit under the Joe Biden administration, to discuss the semiconductor supply shortage issue. This meeting is expected to serve as an opportunity for Samsung Electronics to announce its semiconductor investment in the United States.

Bloomberg News reported on the 10th (local time) that U.S. Secretary of Commerce Gina Raimondo invited semiconductor, automotive, and internet-related companies such as Samsung Electronics, Taiwan's TSMC, Google, Amazon, General Motors, and Ford Motor Company to the semiconductor meeting.

Secretary Raimondo also emphasized the importance of resolving the semiconductor shortage issue in an interview with CBS the day before. When asked how concerned she was about the semiconductor supply chain problem, she said, "It is a critical factor and a serious concern," adding, "There are overall disruptions occurring in the supply chain." The semiconductor shortage is even affecting employment in the U.S. According to the Department of Labor, U.S. automakers reduced 27,000 jobs in April due to the semiconductor shortage.

Secretary Raimondo pointed out, "The area I am particularly focused on is the semiconductor industry," and added, "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 should be coupled with private sector investments ranging from $50 billion to $100 billion. Since the U.S. goal is understood 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 White House convened semiconductor companies centered around the National Security Council on the 12th of last month to seek solutions to the semiconductor shortage crisis. President Joe Biden attended the meeting and emphasized the importance of the semiconductor supply chain by holding up a silicon wafer.

Bloomberg News reported that companies will meet in advance this week to discuss the agenda for this meeting. Unlike the first meeting, as this is the second meeting, it is highly likely that concrete industry-level countermeasures or investment plans will be prepared. Prior to last month's meeting, Intel announced it would invest $20 billion to build a semiconductor factory in the U.S.

It is also noteworthy that this meeting is held a day before the Korea-U.S. summit. There is speculation that Samsung Electronics may announce its ongoing semiconductor factory investment in the U.S. to coincide with this meeting.

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