Alright, we're breaking in live right now to take a
listen to President Joe Biden who is in south Korea
right now for his first presidential trip to Asia
Let's listen in live... heights that already exist and
vice chairman lee, thank you for welcoming us to the
Samsung semiconductor facility. This is an auspicious
start to my visit because it's emblematic of the future
cooperation innovation that our nations can and must
build together. I'm joined by my Secretary of commerce
secretary Raimondo is here in the front row who's
working every day to bring us closer to that goal. I've
just seen how this plant makes the most advanced
semiconductor chips in the worl There are a wonder of
innovation and design, precision and manufacturing.
Semiconductors power our economies and enable our
modern lives from automobiles to our smartphones to
medical diagnostic equipment. A when it comes to the
most advanced chips, like the ones made here, When
Samsung is only one of only three companies in the
world that makes these chips, it's incredible an
incredible achievement because these little chips, only
a few nanometers thick are the key to propelling us
into the next era of humanity's technological
development, Artificial intelli
Technologies, five genes. So very much more things we
haven't even thought of at this point. This plant also
reflects the close bonds, an innovation between our
countries, much of the technology and machinery that i
used to make these chips was designed and produced in
the United States and by uniting our skills and our
technological know how allows the production of chips
that are critical to both our countries and our
essential, essential sectors of our global economy and
uh thanks for the incredible $17 billion investme
that Samsung announced last May soon to the United
States to have a facility like this, one that
manufactures the most advanced chips in the world in
Tyler texas. Thank you. I think it's a good thing. This
investment will create 3000 new high tech jobs in Texas
and add To add to 20,000 jobs. Samsung already su
in the United States of America. So I wanna thank
Samsung for their investment and for continuing to
expand the very productive partnership between
Republic of Korea and the United States. And I I know
that Samsung will also be working with Still Landis on
a joint venture to build a new facility in the United
States that will manufacture batteries for elect
vehicles, invest, investments l these are gonna help
catapult us forward towards a clean energy future which
we both badly need advancing our shared economic
growth, our energy, security and our climate goals. I
also want to make clear that these are smart business
decisions. Samsung investment didn't invest $17 billion
without, as we say in America running the numbers, th
United States is a top destination for foreign dir
investment like the one Samsung is making because we
have a world class, highly skilled and highly commi
workers I heard Samsung as to lances and any company
invest in the United States to enter into partnershi
with our most highly skilled and dedicated engaged
workers you can find anywhere in the world. American
union members Mr Francis knows how much benefit comes
from a successful relationship with the union in
America. They have a national agreement with my frie
Greg curry the united Auto Workers. For every joint
venture the manufacturers, electric vehicle batteries
would be made stronger by collective bargaini
relationships with American unions. We also have
outstanding skilled dedicated union building and
construction trades workers rea to build a new
Samsung facility in Texas. So let's work together to
make this happen and to get that plant built on time
and on budget safely and efficiently because union
labor means high quality work that delivers the best
possible return on investment. The United States has
premier colleges and universities, a culture that
fosters innovation and entrepreneurship, a transparent
and predictable legal system where companies know their
ideas and their investments will be protected and my
administration is doubling down on all of these trends.
We're investing more than $1 trillion dollars to
upgrade America's infrastructur coast to coast over
the next decade and hopefully soon the bipartisan
innovation Act will deliver historic federal
investments in U. S. Research and development includ
funding for something called the chips act to
revitalize the U. S. Semiconductor industry. Our two
nations work together to make the best, most advanced
technology in the world and this factory is proof of
that that gives both the Republic of Korea and the
United States a competitive edge in the global economy.
If if we can keep our supply change resilient, re
and secure. Over the last few years, we've seen just
how critical it is. COVID-19 pandemic dot COVID-19
pandemic exposed the fragility of just in time supply
chains. The global semiconducto shortage has caused a
shortfall in consumer goods, especially automobiles a
contributing to higher prices around the world. And now
food is brutal and unprovoked war in Ukraine as further
spotlights the need to secure our critical supply
chains. So our economy, our economic and our national
security are not dependent on countries that don't
share our values. A critical component of how we'll do
that in my view is by working with close partners
do share our values like the Republic of Korea to
secure more of what we need from our allies and
partners and bolster our supply chain resilience.
That's why our strategy is to build around
strengthening our ties and cooperation across the
board. That's how both our nations can improve our long
term resilience, increase our shared prosperity And put
our people in the best position to come out ahead in
the competition of the 21st century and that's why Mr
President I came to the Republican career, my first
trip to Asia as President of the United States. So
much, So much in the future of the world is going to be
written here in the indo-pacific over the next seve
decades. We're standing at an inflection point in
history where the decisions we make today will have far
reaching impacts on the world. We leave to our Children
tomorrow. This vibrant democracy has become a
powerhouse of global innovation by investing in
educating his people and companies like Samsung that
are driven by responsible development of technology and
innovation will be critical to shaping the future in
the direction of our two countries, the direction we
both want to go. So this is the moment in my view to
invest in one another to deepen our business ties to
bring our people even closer together. This is
something President Yoon and I will be talking about it
on our visit later after this meeting and in the months
ahead because the alliance between the republic of
Korea and the United States America is a linchpin of
peace, stability and prosperity for a reason in the
world that we seek So thank you all very much and
President Moon you and thank you for everything you've
done so far appreciate it. Thank you. Thank you. All
right you were just listening to President Joe Bide
live. He was at a Samsung semiconductor facilit
South Korea. This is day one of a five day trip. His
first presidential trip to Asia. He will also be
visiting Japan just now. We are hearing him speak uh
most specifically about the semiconductor or rather the
computer chip shortage that we've been dealing with
here in America and how they will work together with
Samsung and south Korea to deal with that issue, of
course, one of the major problems happening here in the
US.