US GlobalFoundries to Invest 4.55 Trillion KRW to Establish New Factory in Singapore

[Asia Economy Reporter Kwon Jae-hee] GlobalFoundries, the world's third-largest semiconductor foundry company based in the United States, is establishing a new factory in Singapore to expand semiconductor supply.

According to CNBC on the 22nd (local time), GlobalFoundries announced that it will invest more than $4 billion (approximately 4.55 trillion KRW) to build a semiconductor factory in Singapore.

The company also held a virtual groundbreaking ceremony attended by Singapore's Minister for Transport S. Iswaran and Mubadala CEO Khaldoon Khalifa Al Mubarak from the United Arab Emirates (UAE) sovereign wealth fund, among others.

Although headquartered in the United States, the company is owned by Mubadala and produces semiconductors ordered by AMD, Qualcomm, Broadcom, and others at factories in the U.S., Germany, and Singapore.

According to market research firm TrendForce, GlobalFoundries holds about a 7% share of the global foundry market, ranking third alongside UMC, following TSMC (56%) and Samsung Electronics (18%).