$17 Billion Bold Investment, US Says "Thank You Samsung"... Foreign Media: "TSMC Closely Chasing" (Summary)

▲Lee Jae-yong, Vice Chairman of Samsung Electronics, returning to Korea on the 24th after a business trip to the United States [Image source=Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] On the 23rd (local time), the White House and the U.S. Department of Commerce both expressed their welcoming stance on Samsung Electronics' final selection of Texas as the site for a new foundry semiconductor production line worth $17 billion (approximately 20 trillion KRW).

Brian Deese, Chair of the U.S. National Economic Council (NEC), and Jake Sullivan, National Security Advisor, stated in a joint statement, "Protecting America's supply chains is President Biden and the administration's top priority," and "We welcome today's announcement of Samsung's investment."

They added, "This will help protect our supply chains, revive production bases, and create good jobs," emphasizing, "The Biden administration is working to build additional semiconductor production facilities to ensure we never face a semiconductor shortage again."

They also noted, "This announcement is the result of ongoing efforts between the two countries, including the summit between President Biden and President Moon Jae-in last May," and pledged, "We will do everything possible to strengthen supply chains."

U.S. Secretary of Commerce Gina Raimondo also expressed in a separate statement, "We are very pleased with Samsung's investment decision," and said, "Expanding semiconductor production facilities is essential for economic security, and we will continue to strengthen cooperation with semiconductor manufacturers including Samsung."

The Texas state government held a separate press conference at Governor Greg Abbott's residence on the same day to express gratitude for this investment.

[Image source=Reuters Yonhap News]

Governor Abbott described Samsung's investment as a "historic announcement" that will impact not only Texas but the entire world, prompting applause and cheers at the scene.

Expressing gratitude for choosing Texas, Governor Abbott said, "Thank you, Samsung," and mentioned that this investment is the largest foreign direct investment in Texas, adding, "Thank you again, Samsung."

This investment is expected to create about 2,000 high-tech jobs, thousands of indirect employment opportunities, and more than 6,500 construction jobs.

Governor Abbott stated, "This investment will impact not only Texas but the entire world," and added, "Regarding the recent semiconductor shortage, it will provide a long-term solution with Samsung."

Governor Abbott repeatedly shouted "Thank you" to Samsung afterward.

Foreign media also covered Samsung Electronics' U.S. investment news prominently.

On the same day, Japan's Nihon Keizai Shimbun reported that Samsung will simultaneously produce cutting-edge semiconductors in the U.S. and South Korea, closely chasing Taiwan's TSMC. Nihon Keizai noted that the U.S. has many fabless semiconductor companies such as Qualcomm and Xilinx, and companies like Google and Amazon, which have recently started designing their own semiconductors, could become potential customers.

[Image source=Reuters Yonhap News]

It also introduced that Samsung Electronics Vice Chairman Lee Jae-yong personally traveled to the U.S. to meet with U.S. government officials to discuss semiconductor production subsidies.

The U.S. administration plans to provide a total of $52 billion in subsidies to the semiconductor industry, and Samsung decided to build the new plant after confirming the subsidy conditions.

However, Nihon Keizai added that Intel, a competitor, strongly opposes subsidies to foreign companies, making it uncertain whether Samsung will receive the subsidies as planned.

As semiconductor supply shortages are directly linked to national security, countries are actively competing to attract major semiconductor makers to their own territories. The Japanese government previously decided to provide subsidies for Taiwan's TSMC's first factory construction in Japan. Not only TSMC but also major U.S. semiconductor memory companies Micron Technology and Kioxia Holdings are reportedly being considered for support.

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