[Edaily Reporter SOYEON KIM ] U.S.-Japan semiconductor cooperation is strengthening as Japan invests up to $21 billion (approximately 30 trillion won) in a new semiconductor factory to be operated by the U.S. foundry company GlobalFoundries. The U.S. government will jointly own the new factory with Japan and acquire additional shares in GlobalFoundries. It remains to be seen whether the U.S. policy of simultaneously attracting investment from allied nations and acquiring corporate stakes will serve as a new variable in the U.S. investment strategies of SamsungElectronics and SK hynix.

U.S. President Donald Trump stated on the 14th (local time) via his social media platform, Truth Social, that “At my direction, Japan will provide the funding necessary for the $21 billion investment.” He went on to explain that, through an additional agreement with GlobalFoundries, the U.S. government has secured a stake in the company.

As part of this investment, GlobalFoundries plans to build two new semiconductor factories in Malta, New York. Under this structure, Japan will provide the construction funds, and the U.S. and Japan will jointly own the new factories. GlobalFoundries will be responsible for the construction and operation of the factories and will provide semiconductor manufacturing technology. Separately, the U.S. government will increase its stake in GlobalFoundries from the current approximately 3% to 7%.

Initial customers for the new plants include Japan’s Renesas and the U.S.’s Apple. The initial investment of approximately $10 billion will be allocated to the construction of the first semiconductor plant, which is scheduled to begin operations in 2029. The remaining approximately $10 billion is scheduled to be invested additionally if the construction of a second plant is confirmed in the future.

President Trump stated, “We are turning investment commitments from Japan, South Korea, and Taiwan into large-scale construction projects,” adding, “We are the first administration to turn subsidies into money for America.”

This investment is noteworthy because it utilizes Japanese funds to expand the U.S. semiconductor production base while also allowing the U.S. government to secure an equity stake in the companies. In particular, since President Trump directly mentioned South Korea’s investment pledge, there are concerns that this could lead to additional pressure on domestic semiconductor companies to invest. While this may not immediately affect existing investment plans, observers note that the U.S. government could demand new investment conditions in the future.

The U.S. government is expanding beyond its existing practice of providing subsidies to semiconductor companies to include converting financial support into equity stakes. Previously, the U.S. government signed an agreement last year to convert semiconductor subsidies intended for Intel into an equity investment, thereby securing approximately 9.9% of Intel’s shares. Notably, the agreement included a condition allowing the U.S. government to acquire additional shares if Intel reduces its stake in its foundry business to less than 51%. This case demonstrates that government equity participation can go beyond mere financial support to influence a company’s business restructuring and investment strategies.

SamsungElectronics and SK hynix, which are currently making large-scale investments in the U.S., are also expected to closely monitor changes in the U.S. government’s investment policies. This is because it cannot be ruled out that the U.S. government might impose new conditions during future rounds of investment or grant disbursements.

SamsungElectronics plans to invest more than $37 billion (approximately 50 trillion won) to build two foundry plants and research and development (R&D) facilities in Taylor, Texas. SK hynix has drawn up plans to invest approximately $4 billion to establish a state-of-the-art packaging plant in Indiana.

Kim Hyuk-joong, an associate researcher at the Korea Institute for International Economic Policy (KIEP), expressed concern, stating, “The Trump administration has publicly pressured us for additional investment,” and added, “In the future, the U.S. government may pressure South Korean semiconductor companies to invest and impose various conditions in the process.”