US-Korea cooperation on chip supply mutually beneficial – Graves
United States Deputy Secretary of Commerce Don Graves said it was crucial that his country and South Korea cooperate to establish a resilient supply chain of semiconductors. Speaking at a webinar on US-Korea cooperation on Wednesday, Graves insisted that this would be of mutual benefit as even the desired increase in America’s own manufacturing capacity would not be enough to satisfy demand.
Referring to legislation proposing $52 billion in funding for the domestic semiconductor industry, Graves stated that “the United States won’t just have the capacity even if we move as quickly as we’d like on the Chips Act… That’s not going to be enough to keep up with the demand of every one of the types of industries that I covered in my remarks. So we need to partner with our allies across the globe.”
“Our friends in Korea have great technology and significant capacity themselves, and by partnering with them we strengthen our own companies, and we help to strengthen their companies,” he concluded.
Get involved!
Comments