Intel to Invest 23 Trillion Won in Ohio, USA... Building New Semiconductor Hub

[Asia Economy Reporter Yuri Kim] Intel is reportedly investing $20 billion (approximately 23.87 trillion KRW) to build a semiconductor hub in Ohio, USA, according to major foreign media on the 20th (local time).

The foreign media reported that Intel plans to establish a semiconductor development and production facility spanning 1,000 acres (about 4,046,856㎡) in New Albany, Ohio. It is expected that an official announcement will be made on the 21st at the White House, attended by President Joe Biden and Intel CEO Pat Gelsinger. The media also mentioned that Intel is considering additional investments worth hundreds of billions of dollars to expand the factory to up to eight plants.

Earlier, the weekly news magazine Time reported that Intel selected Albany, Ohio, among 38 candidate sites last December and plans to build at least two semiconductor manufacturing plants there. The outlet said Ohio has committed to investing $1 billion in upgrading social infrastructure to attract Intel’s factory.

In an interview last fall, CEO Gelsinger stated plans to announce a new semiconductor production hub in the U.S. with eight factories, investing $100 billion over the next decade and creating 10,000 jobs.

Intel also plans to invest up to €80 billion (approximately 108 trillion KRW) to build semiconductor production facilities in Europe, and as part of this, it is reportedly negotiating with Italy to construct a semiconductor plant worth €8 billion.