South Korea’s Samsung Electronics plans to start building its $17bn US semiconductor chip plant in Austin, Texas.
According to media reports, the plant will manufacture five-nanometer chips, applying an extreme ultraviolet lithography process. Samsung aims to have the facility operational by Q3 2024 and employ around 1,800 workers. The company recently also hinted at a KRW38tn ($151bn) investment in a new chip plant in Pyeontaek, Korea to make 14- and 5-nanometer chips.
On Tuesday, US Commerce secretary Gina Raimondo proposed a $52bn industry stimulus to chip production as well as research. If the funds are approved, this may lead to 7-10 new plants coming up in the US. This reflects the grave shortage of chips in the auto industry which is affecting production at many facilities across the country and the globe.