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Samsung's US chip plant investment may be in offing: Report
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SME Times News Bureau | 17 May, 2021
Samsung Electronics may unveil its plan later this month to build a new
chip factory in the United States, industry sources said on Monday, as
the South Korean tech giant tries to cope with rivals' capacity
expansions.
Speculation has run high that Samsung would reveal
its US investment upon the summit between South Korean President Moon
Jae-in and US President Joe Biden to be held in Washington on Friday.
Samsung,
the world's largest memory chip producer and No. 2 foundry firm, has
been mulling building a $17 billion foundry factory in the US, with
Texas, Arizona and New York mentioned as possible candidate sites,
reports Yonhap news agency.
Kim Ki-nam, who heads Samsung's chip
business, is expected to visit the U.S. as a member of President Moon's
business delegation for the summit and may confirm the plan after
meeting with U.S. officials, sources here said.
Samsung was the
only South Korean firm to join a White House online meeting last month
to discuss global semiconductor shortages. The company has reportedly
been invited again to a virtual meeting to be hosted by U.S. Commerce
Secretary Gina Raimondo on Thursday.
The tech giant already runs a
chip facility in Austin, Texas, but the need for additional U.S.
investment emerged after its rivals moved ahead for capacity expansions.
Taiwan
Semiconductor Manufacturing Co (TSMC) recently announced that it will
invest $100 billion over the next three years for capacity expansion.
The
world's top contract chip maker already unveiled last year it would set
up a $12 billion plant in Arizona, but speculation has been growing
that the company may build five additional fabs with advanced nodes.
Intel,
the world's leading semiconductor seller, also announced that it will
invest $20 billion to expand its chipmaking capacity and teased its
re-entry to the foundry business.
Samsung's US investment will
also be in line with its vision of becoming the world's No. 1 player in
the logic chip and foundry sectors by 2030.
The company last
week said it will spend an additional 38 trillion won to expand its
previous investment plan of 133 trillion won unveiled in 2019.
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