KoreaTechToday - Korea's Leading Tech and Startup Media Platform
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
  • Lists
KoreaTechToday - Korea's Leading Tech and Startup Media Platform
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
  • Lists
KoreaTechToday - Korea's Leading Tech and Startup Media Platform
No Result
View All Result
Home GM

US Finalizes $4.7 Billion Chip Subsidy for Samsung Ahead of Presidential Transition

Siwoo Jung by Siwoo Jung
PUBLISHED: December 22, 2024 UPDATED: December 31, 2024
in GM, Samsung, Ssangyong
0
US Finalizes $4.7 Billion Chip Subsidy for Samsung Ahead of Presidential Transition

The US government has finalized a $4.745 billion subsidy for Samsung Electronics to support its semiconductor manufacturing facilities in Texas. This funding, awarded under the CHIPS Incentives Program, aims to boost domestic chip production as part of the Biden administration’s broader initiative to strengthen the US semiconductor industry. The decision comes just weeks before President-elect Donald Trump takes office amidst his criticism of the outgoing administration’s semiconductor policies.

The US Department of Commerce stated that the subsidy marks the culmination of an agreement initially proposed in April, which included up to $6.4 billion in grants for Samsung. The revised amount reflects adjustments following Samsung’s scaled-back investment plans for the Texas facility. Additionally, the department announced funding for SK Hynix, another South Korean company, which will receive up to $458 million in direct funding and $500 million in loans for its semiconductor operations in Indiana.

Under the CHIPS and Science Act, the US Department of Commerce has finalized a direct subsidy of up to $4.745 billion for Samsung Electronics, supporting the company’s $37 billion investment in Texas. This grant will help Samsung develop a comprehensive semiconductor ecosystem, including constructing two leading-edge logic fabs and an R&D facility in Taylor, along with expanding its existing site in Austin. While the subsidy amount is lower than the previously agreed $6.4 billion, the reduction stems from Samsung’s decision to scale back its investment plans from $44 billion to $37 billion.

This funding is part of Samsung’s broader initiative to strengthen its semiconductor production capabilities in the U.S. With this investment, the US will become the only country globally with all five major semiconductor manufacturers operating within its borders. 

Samsung’s decision to adjust its investment follows the preliminary agreement established in April. The company had originally committed to investing $45 billion by 2030. However, the revised commitment now stands at $37 billion, leading to the adjusted subsidy amount. The revised funding is expected to create about 12,000 construction jobs and over 3,500 manufacturing roles in Texas over the next five years.

Jun Young-hyun, Vice Chairman of Samsung’s Semiconductor Division, expressed optimism about further collaboration with US partners to meet the growing demands of the AI-driven future. This investment is seen as a significant milestone in reinforcing US economic and national security while supporting the creation of thousands of high-paying jobs nationwide.

Related Posts

Inside Stargate: How Samsung and SK Are Powering OpenAI’s Global AI Ambitions
AI

Inside Stargate: How Samsung and SK Are Powering OpenAI’s Global AI Ambitions

October 7, 2025
Samsung Launches TRUEBench: A Benchmark for Real-World AI Productivity
AI

Samsung Launches TRUEBench: A Benchmark for Real-World AI Productivity

September 29, 2025
Samsung AI Forum 2025: Could its AI Agents Change How We Interact with Technology?
AI

Samsung AI Forum 2025: Could its AI Agents Change How We Interact with Technology?

September 25, 2025
Samsung SDS Unveils Full-Stack AI Strategy to Drive Enterprise Transformation
AI

Samsung SDS Unveils Full-Stack AI Strategy to Drive Enterprise Transformation

September 24, 2025
Caught Between Giants: How U.S. Export Controls Reshape South Korea’s Semiconductor Strategy
Samsung

Caught Between Giants: How U.S. Export Controls Reshape South Korea’s Semiconductor Strategy

September 1, 2025
Samsung and SK Hynix Face New U.S. Licensing Rules for Chinese Chip Plants
China

Samsung and SK Hynix Face New U.S. Licensing Rules for Chinese Chip Plants

August 31, 2025
No Result
View All Result

Most Popular

  • Ride-Hailing Rivalry: Kakao and Uber Bet on Membership Services in Korea

    0 shares
    Share 0 Tweet 0
  • Korea’s Navigation Battle Heats Up: Naver and Kakao vs. Google maps

    0 shares
    Share 0 Tweet 0
  • Kakao Mobility Faces $10.5 Million Fine for Limiting Competitors’ Access to Taxi Platform

    0 shares
    Share 0 Tweet 0
  • 5 Best Korean to English Translation Apps

    0 shares
    Share 0 Tweet 0
  • Naver Launches 3D Street View for Immersive Navigation Experience

    0 shares
    Share 0 Tweet 0
  • KakaoTalk to Adopt Instagram-Style Feed in Major 2025 Redesign

    0 shares
    Share 0 Tweet 0
  • Naver Maps Launches Guide in English, Chinese, and Japanese to Enhance Travel Experience for Tourists

    0 shares
    Share 0 Tweet 0
  • Top Nine Mobile MMORPG in South Korea for 2020

    0 shares
    Share 0 Tweet 0
  • Naver Unveils Asia’s Largest Data Center, GAK Sejong, for Tech Innovation

    0 shares
    Share 0 Tweet 0
  • LG’s Return to Smartphones: A New AI Collaboration with Samsung

    0 shares
    Share 0 Tweet 0

PRODUCTS

[ads_amazon]

TOPICS

  • Naver
  • Kakao
  • Nexon
  • Netmarble
  • NCsoft
  • Samsung
  • Hyundai

FREE NEWSLETTER

FOLLOW US

  • About Us
  • Cookie policy
  • home
  • homepage
  • mainhome
  • Our Services
  • Privacy Policy
  • Terms of Use

Copyright © 2024 KoreaTechToday | About Us | Terms of Use |Privacy Policy |Cookie Policy| Contact : [email protected] |

No Result
View All Result
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
  • Lists

Copyright © 2024 KoreaTechToday | About Us | Terms of Use |Privacy Policy |Cookie Policy| Contact : [email protected] |