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Biden talks to IT Industry leaders on semiconductor shortage


Friday, March 11, 2022

U.S. President Joe Biden held discussions on Wednesday with top officials from global IT businesses, including Samsung Electronics, on ways to address the semiconductor shortage.

Biden said the nation is seeing a revitalization of American manufacturing, especially in the industrial Midwest, and that companies are choosing to build new factories in the U.S. when just a few years ago they would have built them overseas.

In particular, Biden highlighted Samsung’s commitment of 17 billion dollars to build a semiconductor facility in Texas, which is expected to create two-thousand jobs. He noted that the commitment is the South Korean electronic giant’s largest ever U.S. investment.

To address the supply chain bottlenecks resulting from a shortage in memory chips, Biden has been strengthening the U.S.’ solidarity with South Korea, Taiwan and other leaders in semiconductors.

Wednesday’s meeting saw the attendance of Choi Si-young, the president and general manager of the foundry business in Samsung Electronics' Device Solutions Division, as well as the executives of Hewlett-Packard, Medtronic, Micron and Cummins.

By: DocMemory
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