President Joe Biden is opening his trip to Asia with a focus on the computer chip shortage that has bedeviled the world economy, touring a Samsung computer chip plant that will serve as model for a $17 billion semiconductor factory that the Korean electronics company plans to open in Texas.
The visit Friday is a nod to one of Biden's key domestic priorities of increasing the supply of computer chips. A semiconductor shortage last year hurt the availability of autos, kitchen appliances and other goods, causing higher inflation worldwide and crippling Biden's public approval among U.S. voters.
Greeting Biden at the plant in South Korea will be the country's new president, Yoon Suk Yeol, and Samsung Electronics Vice Chairman Lee Jae-yong. Yoon is a political newcomer who became president, his first elected office, slightly more than a week ago. He campaigned on taking a tougher stance against North Korea and strengthening the 70-year alliance with the U.S.
More than 75% of global chip production comes from Asia. That's a possible vulnerability the U.S. hopes to protect against through more domestic production and $52 billion worth of government investment in the sector through a bill being negotiated in Congress.
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