GlobalFoundries and STMicroelectronics to Jointly Invest 5 Trillion Won in Semiconductor Factory in France

[Photo by Reuters Yonhap News]

[Asia Economy Reporter Park Byung-hee] GlobalFoundries and STMicroelectronics are set to announce plans on the 11th (local time) to jointly build a semiconductor factory in France, according to the French daily Le Figaro on the 10th.

GlobalFoundries and STMicroelectronics plan to invest nearly 4 billion euros (approximately 5.285 trillion KRW) for the construction of the factory.

With the construction of the semiconductor factory by GlobalFoundries and STMicroelectronics in France, the EU is expected to take a step closer to its goal of increasing its semiconductor market share. The European Commission announced last year a plan to raise the semiconductor market share to 20% by 2030.

The semiconductor factory construction plan by GlobalFoundries and STMicroelectronics is scheduled to be announced as part of "Choose France," a corporate investment attraction event hosted by French President Emmanuel Macron in Versailles on the same day. This year marks the 5th anniversary of Choose France.

The ?lys?e Palace stated that at this year's event, CEOs of global companies are expected to announce investment plans totaling 6.7 billion euros. It also added that this investment will create 4,000 jobs in France.

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