US President Joe Biden signed the CHIPS and Science Act into law on Tuesday with the aim of stimulating the country’s semiconductor industry and maintaining its technological supremacy (albeit with doubts).
South Korea’s SK Hynix aims to select a U.S. site for its advanced chip packaging plant and break ground there around the first quarter of next year, two people familiar with the matter said, helping the United States to compete as China pours money into the burgeoning sector.
Samsung is strengthening its international supplier network and trying to expand its manufacturing operations in more countries. According to Vietnamese media Lao Dong, Samsung’s Roh Tae-Moon met with Vietnamese Prime Minister, Pham Minh Chin, to prepare for what comes next.
Since the start of the pandemic, chip shortages have majorly impacted the automotive, information technology and consumer electronics sectors, partly due to disruptions in production processes and supply chains amid increased demand.