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U.S. finalizes US$4.7 bln in CHIPS Act subsidy to Samsung Electronics
(ATTN: UPDATES throughout with more details, remarks)By Song Sang-ho WASHINGTON, Dec. 20...
WASHINGTON, Dec. 20 (Yonhap) -- The U.S. Commerce Department said Friday that it awarded Samsung Electronics Co. up to US$4.745 billion in direct funding to support the South Korean tech giant's chipmaking investment in central Texas, as it strives to strengthen domestic semiconductor production. The funding will support Samsung's investment of over $37 billion in the coming years to turn its existing presence in central Texas into a comprehensive ecosystem for the development and production of leading-edge chips in the United States, the department said. "This is an extraordinary achievement, which will ensure we have a steady, domestic supply of the most advanced semiconductors that are essential to AI and national security, while also creating tens of thousands of good-paying jobs and transforming communities across the country," she added.
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