Choi Tae-won: “If China and the U.S. expand semiconductor capacity faster, our market share will shrink... We need to move fast too”

[Financial News] SK Group Chairman Choi Tae-won reiterated the need to move quickly in the race to expand semiconductor production facilities, saying on the 11th, “If China or Micron Technology, Inc. in the U.S. expands capacity faster, our country's market share will fall.”
According to industry sources, Choi spoke with reporters at the 38th Shanghai Mayor's International Business Leaders Advisory Council in Shanghai that day and said, “We need to expand—quickly.”
On the Honam semiconductor cluster project, Choi also said, “We need to do something as quickly as possible, too,” adding, “We need to keep expanding not only in Gwangju but elsewhere as well. Demand is enormous, but if we can't expand our factories, that's the problem.”
However, when asked about the possibility of expanding factories overseas, including in Japan, Choi replied, “We're studying it.”
Choi, who visited Gwangju Military Airport on the 9th, the site of the Honam semiconductor cluster, and said, “If I think the circumstances will allow us to build, I'll build as much as possible, as quickly as possible,” reiterated his determination to press ahead with the rapid construction of semiconductor plants at this event as well.
Commenting on Chinese semiconductor companies catching up, Choi said, “If we leave them alone, they'll all catch up. They're coming after us fast,” adding, “We need to compete fiercely, but we can't expand in the Chinese market, so we're not competing very well there.”
 


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