US Urges Korean Memory Chip Makers to Boost US Production
US Commerce Secretary Gina Raimondo has urged South Korean memory chip manufacturers Samsung and SK Hynix to accelerate the expansion of their production capacity in the United States to alleviate global shortages.
U.S. Commerce Secretary Gina Raimondo has called on South Korean memory chip giants Samsung and SK Hynix to speed up the expansion of their manufacturing capacity within the United States. The move is part of broader governmental efforts to strengthen the nation's semiconductor supply chains and address global chip scarcity.
Raimondo confirmed she has engaged in discussions with both South Korean firms. She indicated that while competitor Micron is already investing in the U.S., the country needs to continuously bolster its domestic chip production capabilities. "I want to get their competitors – Samsung and SK Hynix – to build plants in the U.S.," Raimondo stated.
The push for expanded production comes amid a surge in demand for memory chips, driven by the global artificial intelligence boom. Both SK Hynix and Samsung have announced significant future investments in new fabrication plants worldwide. U.S.-based Micron also recently announced it would increase its planned U.S. investments.
The global shortage of chips has impacted various sectors, including consumer electronics and automotive manufacturing. The imbalance between supply and demand has led to increased costs, prompting some companies, like Apple, to raise prices on their devices.