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Tuesday, July 23, 2024

Texas governor visits Samsung chip facility during 3-day trip to Korea

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Texas Gov. Greg Abbott paid a visit to Samsung Electronics’ chip fabrication line in Pyeongtaek, Gyeonggi on Tuesday, meeting with key executives including the newly appointed head of the chip division, Jun Young-hyun.

Abbott is on a three-nation economic development mission to Taiwan, Korea and Japan. Tuesday was his second day in the country.

On Monday, the governor met with Korean Minister of Foreign Affairs Cho Tae-yul and attended a luncheon hosted by the Korea International Trade Association. He also held talks with executives from SK Group, including Yu Jeong-joon, CEO of SK Americas and Shin Jung-ho, CEO of SK Signet.

Texas Gov. Greg Abbott with Korea International Trade Association Chairman Yoon Jin-sik during a luncheon on Monday [OFFICE OF THE TEXAS GOVERNOR]
Texas Gov. Greg Abbott with Korea International Trade Association Chairman Yoon Jin-sik during a luncheon on Monday [OFFICE OF THE TEXAS GOVERNOR]

Texas is a key trade partner for Korea.

Samsung Electronics is building a $17 billion chip fabrication plant in Taylor, Texas and is planning to expand the investment to more than $40 billion by 2030.

SK Signet, an EV-charging affiliate of SK Group, also committed $37 million to the state last year, securing a production rate of 10,000 EV chargers per year.

“Texas and South Korea have plenty in common, with knowledge-based economies that will continue to grow and thrive well into the next generation,” said Abbott.

Texas Gov. Greg Abbott, center on the left, and SK Signet CEO Shin Jung-ho, third from left on the right, hold a meeting on Monday. [OFFICE OF THE TEXAS GOVERNOR]

“We are both economic powerhouses set to dominate the technologically advanced future. And with our strong trade and exports, Texas and South Korea are critical economic partners in the growing economies of the 21st century. I looked forward to working closely with the leaders of South Korea to further link our economies and ensure our two peoples lead the way into the economy of the future.”

BY JIN EUN-SOO [jin.eunsoo@joongang.co.kr]