Kim Ki-nam: "US Investment Takes Time Due to Many Considerations... Decision to Be Made As Soon As Possible"

Kim Ki-nam, Vice Chairman of Samsung Electronics

[Asia Economy Reporter Jeong Hyunjin] Kim Ki-nam, Vice Chairman of Samsung Electronics, stated on the 26th that "we are working to make a decision as soon as possible" regarding the final confirmation plan for the $17 billion (approximately 20 trillion KRW) investment in a U.S. foundry (semiconductor contract manufacturing) plant location.

Vice Chairman Kim made these remarks during the '2021 Korea Electronics Show (KES 2021),' an electronics and IT exhibition hosted by the Ministry of Trade, Industry and Energy and organized by the Korea Electronics and Telecommunications Industry Association, held at COEX in Seoul that morning. He attended in his capacity as chairman of the Korea Electronics and Telecommunications Industry Association and responded to reporters' related questions.

Regarding the timing of the investment decision, Vice Chairman Kim explained, "No definite date has been set yet," adding, "There are many factors to consider such as infrastructure, site, workforce, and state government incentives, so it may take a little more time." When asked if the investment decision could be made within this year, he replied, "We are also working hard to try to do it as soon as possible."

Samsung Electronics announced its plan to invest $17 billion to expand its U.S. foundry plant during the South Korea-U.S. summit held at the White House in May. Currently, Taylor City, near Austin City in Texas where Samsung Electronics already has a plant, has emerged as a strong candidate site. Arizona and New York are also being considered as candidate regions.

Regarding the U.S. government's request for semiconductor data by the 8th of next month, Vice Chairman Kim mentioned, "We are calmly and thoroughly preparing while considering various factors."

Last month, the White House and the U.S. Department of Commerce requested companies such as Samsung Electronics, SK Hynix, TSMC, and Intel to submit questionnaires on semiconductor inventory, orders, sales, and other supply chain information. The government has continuously engaged in related consultations with the U.S. side, conveying industry concerns that sensitive internal corporate information could be leaked.

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