The Biden administration in the United States reportedly plans to grant Samsung Electronics subsidies exceeding $6 billion (7.96 trillion won), according to Bloomberg on Mar. 15, citing several sources.
These subsidies, earmarked by the U.S. government for Samsung, stem from the U.S. Chips Act. This act enables the Department of Commerce to offer financial incentives for semiconductor manufacturing and research and development, encouraging firms to invest within the U.S.
It is suggested that these funds will assist Samsung in broadening its U.S. presence beyond the previously announced Texas facility. In 2021, Samsung announced plans to construct a new semiconductor factory worth $17 billion in Taylor, Texas, complementing its existing plant in Austin, Texas.
The Department of Commerce is poised to disclose subsidy arrangements for key players in the advanced semiconductor industry by the month’s end.
In a previous report, Bloomberg noted that Samsung Electronics plans to secure several billion dollars in subsidies under the U.S. Chip Act. It also mentioned that Taiwanese semiconductor manufacturer TSMC might receive over $5 billion, and Intel, an American corporation, could be awarded upwards of $10 billion in subsidies.
