![President Joe Biden of the United States listens to semiconductor wafers at the'Semiconductor and Supply Chain Recovery Chief Executive Officer (CEO) Conference' held in video at the White House on the 12th. President Biden emphasized the resurgence of the US manufacturing industry and securing the supply chain in order to contain China from restructuring the semiconductor supply chain. [AP=연합뉴스]](https://i0.wp.com/pds.joins.com/news/component/htmlphoto_mmdata/202104/19/aa8aeb7a-a987-4180-bb1a-412c916b8b29.jpg?w=560&ssl=1)
President Joe Biden of the United States listens to semiconductor wafers at the’Semiconductor and Supply Chain Recovery Chief Executive Officer (CEO) Conference’ held in video at the White House on the 12th. President Biden emphasized the resurgence of the U.S. manufacturing industry and securing the supply chain in order to keep China from restructuring its semiconductor supply chain. [AP=연합뉴스]
On the 16th, the head of the five economic organizations, including Son Kyung-sik, chairman of the Korea Employers Association, officially suggested to the government an amnesty for Samsung Electronics vice chairman Lee Jae-yong. It was a meeting at the Seoul Chamber of Commerce and Industry to discuss economic recovery plans with Deputy Prime Minister Hong Nam-ki. Chairman Son said on the day, “Semiconductors are a business that needs to be invested in four to five years in advance.” In order to respond quickly to the global semiconductor competition and invest boldly in the next-generation semiconductor business, Vice Chairman Lee must lead the management. Suggested.
Finding a solution, making large-scale investment decisions is up to the total number
5th Economic Organization Leader, Vice Chairman Lee Jae-yong Suggestions for Amnesty
The reason why Vice Chairman Lee’s amnesty proposal is drawing attention is that the semiconductor industry, which is leading the Korean economy, is falling into a whirlwind of US-China hegemony. On the 12th, US President Joe Biden brought together 19 of the world’s major semiconductor-related companies, including Samsung Electronics, to the White House. It was a request to increase semiconductor production facilities on the US land, but the key was to create a’semiconductor value alliance’ centered on the US to contain China.
President Biden’s request is reminiscent of the past 30 years ago. At that time, Japan surpassed the United States in the field of memory semiconductors. The United States, feeling a sense of crisis, exerted trade pressure on Japan, leading to the US-Japan semiconductor agreement in 1986. After that, the Japanese semiconductor industry had to walk a path of decline.
The core of President Biden’s semiconductor value alliance is the global semiconductor production value chain against China. It is an embarrassing thing for Korea, which has a semiconductor production base in China and has to target the 1.4 billion Chinese market. On the 12th, competitors such as Intel and Taiwanese TSMC have unveiled their semiconductor investment plans in the U.S. after the White House meeting, and Samsung Electronics, the only participating company in Korea, is also under the burden of having to respond in some way to the’invoice’ issued by President Biden. Even at the summit meeting between President Moon Jae-in and US President Biden, scheduled for late next month, the talk of semiconductor investment will inevitably come out.
It is reported that Samsung Electronics is recently considering a plan to build a second foundry (semiconductor consignment production) factory worth 17 billion dollars (about 20 trillion won) in the United States. The problem is that the decision is being delayed due to the absence of the total number. Vice-Chairman Lee Jae-yong is sentenced to jail after being sentenced to jail after being sentenced to imprisonment at a repatriation trial for the destruction of Gukjeong Nongdan. After the sentence was confirmed in January, due to an emergency infectious disease of the novel coronavirus, I was not able to visit a single time except for the lawyer. Even under normal circumstances, the visit is only 10 minutes a week, and all conversations must be recorded while the witness is watching. It is the responsibility of Vice Chairman Lee to make large-scale investment decisions worth tens of trillion won and to find countermeasures between the US and China. This is the reason why the 5th economic organization heads came up and officially suggested Lee’s pardon to the government. I hope the government will listen.