U.S. Government Awards Samsung $6.4 Billion in Grant Money to Build Texas Plant
This is a big incentive for Samsung to build a chip plant in Texas:
The U.S. government announced a plan Monday to award Samsung Electronics up to $6.4 billion in grants to support the Korean tech giant’s chipmaking investment in central Texas, as it strives to strengthen domestic semiconductor production.
The Commerce Department said it has reached a nonbinding preliminary agreement with Samsung to provide the grants under the CHIPS and Science Act to back the company’s expected investment of more than $40 billion, in the establishment of a “leading-edge semiconductor ecosystem” in the state.
Korea Times
You can read more at the link.
Nice! Texas economy keeps growing…
What does this have to do with South Korea other than losing GDP, jobs, and even talented semiconductor people to the US?
“What does this have to do with South Korea other than losing GDP, jobs, and even talented semiconductor people to the US?”
Keep going.
You almost have it!
Correct, Chickenhead.
This is what you get as a reward when you cooperate closely with the US. You become much poorer, courtesy of Uncle Sam.
“It may be dangerous to be America’s enemy, but to be America’s friend is fatal.”
– maybe Henry Kissinger
…though Korea has had an unusually good experience with both America and big business so far.
Korea just has to remember:
– America doesn’t look out for Americans… it looks out for multinationals
– Many “Korean” companies are no longer Korean… they are multinationals with multinational owners and multinational agendas
CH, you’re just too kind… That level of political education (mercantilism) is usually reserved for people in senior levels of government and big business. And here you are, just giving it away to folks who seemingly haven’t mastered basic macro economics.
Your generosity is exemplary! The only thing you left out is China was doing this very successfully; but Xi stumbled, allowing the USA and EU to pick up some of the pieces from multinationals now wishing to diversify their production.