| South Korea's Amkor opens $1.6 bn chip factory in Vietnam
South Korea's Amkor opens $1.6 bn chip factory in Vietnam
by AFP Staff Writers
Hanoi (AFP) Oct 12, 2023
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South Korean semiconductor giant Amkor opened a new $1.6 billion packaging factory in Vietnam on Thursday, as the Southeast Asian nation looks to cash in on the global rush for microchips.
The company hosted a grand opening at the site -- which will be used for packaging and testing -- in northern industrial Bac Ninh province, next door to Hanoi, a day earlier.
Amkor president and chief executive officer Giel Rutten said the facility would help build the "secure and reliable supply chain our customers need".
Global supply chain shocks and fears about the United States' reliance on China for strategic resources are boosting investment in the growing semiconductor industry in Vietnam.
During his visit to Hanoi last month, US President Joe Biden committed to helping the communist nation develop its capabilities and expand production.
Vietnam's investment minister Nguyen Chi Dung said in late September that "the government is paying special attention to increasing investment in developing the semiconductor sector in Vietnam".
Investors have been encouraged to expand their operations with many preferential policies in place, Dung added.
In September, Hana Micron, also from South Korea, opened a $600 million packaging factory in Bac Giang province.
Ahead of the opening of the Amkor plant, the company said on Facebook that it had "committed $1.6 billion for the first two phases of the project for facility, machinery, and equipment, making a substantial contribution to Vietnam's economic growth".
"The result will be Amkor's most advanced facility, delivering next-generation semiconductor packaging capabilities," the statement said.
Artificial Intelligence Summary
Defense Industry Analyst: 9/10 Stock Market Analyst: 4/10 General Industry Analyst: 6/10 Analysts Summary: The United States denounced the deportation of Chinese human rights lawyer Lu Siwei from Laos to China, calling for details on his whereabouts and assurances on his access to medical care. Lu and one other lawyer, Ren Quanniu, had their legal licenses revoked in 2021 by authorities. Beijing has cracked down on legal professionals offering activists representation in a campaign critics have slammed as an attempt to silence dissent. Mainland authorities accused Lu of inappropriate remarks on the internet, and seriously damaging the lawyer industrys image. This article raises serious questions about the human rights violations taking place in China, and the implications of the Chinese governments actions on the defense, stock market, and general industries. Analysts should consider the long-term implications of this development, as well as any potential negative impacts on the respective sectors.Comparison to Significant Events and Trends in Space and Defense Industry: This article highlights the Chinese governments crackdown on legal professionals offering activists representation, which is a significant trend in the space and defense industry over the past 25 years. This comes amidst a wider trend of increased human rights violations in China, as well as increased restrictions on civil liberties. This trend has been particularly prevalent in the defense and aerospace industries, as the Chinese government has placed greater restrictions on the movement of people and goods in and out of the country. This article serves to highlight the implications of the Chinese governments actions on the defense and aerospace industries, as well as the potential impacts of their actions on the respective sectors. Investigative Question:- 1. What are the implications of the Chinese governments actions on the defense and aerospace industries?
- 2. What are the long-term implications of the Chinese governments actions on the respective sectors?
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What measures are being taken to ensure the safety and security of activists and legal professionals in China?4. What are the implications of this development for global human rights? 5. What are the potential impacts of the Chinese governments actions on the international community?
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