21 May 2022 -

Biden visits Samsung to strengthen alliance amid semiconductor shortgaes

U.S. President Joe Biden visited Samsung’s semiconductor plant in Pyeongtaek, south of Seoul, during his five-day visit to South Korea and Japan, heralding the importance of bolstering supply chain resilience among “value sharing” countries, reports Bloomberg.

“I’ve just seen how this plant makes the most advanced semiconductor chips in the world,” Biden said. According to Bloomberg, his trip to the Samsung facility “underscores the emphasis he’s placed on strengthening semiconductor alliances among the world’s largest chip making countries to try to ease shortages that have dragged on the global economy”.

It’s reported that South Korean President, Yoon Suk Yeol, joined Biden at the event and said that “based on advanced technology and supply chain cooperation,” he’d seek to upgrade US-South Korea relations “into an economic-security alliance.”

Bloomberg says that Biden touted plans for new US investment that Samsung announced late last year. “The company chose Texas in a $17 billion plan as the site of an advanced chip plant set to break ground this year, with a target to kick off operations in the second half of 2024.”

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