"US Will Lead the 21st Century"
"Semiconductors, Wafers, and Ultra-High-Speed Communication Are Also Infrastructure"
[Asia Economy New York=Correspondent Baek Jong-min] U.S. President Joe Biden emphasized that he will aggressively invest in semiconductors to compete with China. President Biden directly held a semiconductor wafer to stress the importance of semiconductor investment.
On the 12th (local time), President Biden highlighted the U.S. commitment to semiconductor investment during his remarks at a CEO meeting held via video conference at the White House and asked for the cooperation of the attendees.
President Biden introduced, "Today, I received a bipartisan letter from 23 senators and 42 representatives supporting the semiconductor industry," and added, "China and other countries in the world are not waiting," emphasizing, "There is no reason for the U.S. to wait."
He stressed that China has made large-scale investments and that the U.S. must also seek significant investments.
He said, "We are investing aggressively in fields like semiconductors and batteries," and added, "This is what they and others are doing. We must do the same."
Holding up a semiconductor wafer, he emphasized, "This is infrastructure. We need to build today's infrastructure, not just repair yesterday's."
President Biden also stated that through infrastructure investment plans, the U.S. will create jobs, protect its supply chains, lead research and development, and make America a great engine.
He highlighted that the U.S. led the world in the mid-20th century and at the end of the century and asserted that it will do so in the 21st century as well.
Regarding this meeting, President Biden said its purpose was to confirm whether the U.S. government and industry are ready to work together to prepare for the upcoming global competition.
Earlier, during a speech on the semiconductor supply chain review executive order, President Biden held a semiconductor chip, and on this day, he also showed a wafer estimated to be 10 inches in size during his remarks.
The meeting was chaired by Jake Sullivan, White House National Security Advisor, and Brian Deese, Chair of the National Economic Council (NEC). The industry participants included 19 companies such as semiconductor foundry firms Samsung Electronics and Taiwan's TSMC, automotive companies Ford and GM, semiconductor companies, and computer-related firms. Samsung Electronics was represented by Choi Si-young, President of the Foundry Business Division.
Last month, President Biden announced a $2.25 trillion infrastructure investment plan that included a budget to strengthen the semiconductor industry. He also issued an executive order to comprehensively review the supply chain, recognizing semiconductors as items directly linked to national security.
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