HANOI (AFP) – South Korean semiconductor giant Amkor opened a new USD1.6 billion packaging factory in Vietnam yesterday, 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’ (US) 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 nation develop its capabilities and expand production.
