Reuters: "U.S. government considers acquiring stakes in Samsung Electronics and TSMC"

A method of offering subsidies in exchange for equity

Plan to apply this to other semiconductor companies following Intel

U.S. Commerce Secretary: "We should receive equity in exchange for our money"

Reuters reported on the 19th (local time) that 'President Donald Trump is considering acquiring stakes in chip manufacturers (other than Intel) receiving semiconductor subsidies'. The U.S. government, which is seeking to secure a 10% stake in Intel using subsidies, is expected to demand similar stakes from Samsung Electronics, TSMC, and others.

Secretary Lutnick: "We should receive equity in companies getting subsidies"

Quoting multiple sources, Reuters reported that 'U.S. Commerce Secretary Howard Lutnick is reviewing plans to acquire stakes in chip manufacturers that receive U.S. CHIPS Act funds through building factories in the United States.' The Biden administration decided to grant $10.9 billion in subsidies to Intel, $6.6 billion to TSMC, and $4.7 billion to Samsung Electronics.

The White House, Samsung Electronics, TSMC, and others have not made any official statements regarding the Reuters report.

Secretary Lutnick, in a CNBC interview that day, directly criticized the Biden administration's semiconductor subsidy policy and acknowledged efforts to acquire Intel shares using the subsidies. He stated, "The Biden administration basically provided free support to Intel and distributed money to TSMC for nothing," and "money was just being given away to other companies as well." He added, "The CHIPS Act is simply giving money to wealthy companies," and questioned, "Why should the U.S. provide money to a company like TSMC worth $1 trillion?" He also commented, "President Trump says, 'Let's convert the money Biden was just going to give away into equity for Americans'."

Secretary Lutnick's remarks confirmed a Bloomberg report that 'the U.S. government is considering acquiring a 10% stake in Intel.' If the government secures a 10% stake, it would become the largest shareholder.

Securing a 10% stake in Intel... No management control

The U.S. government made it clear that it would not exercise management rights. Secretary Lutnick explained, "This does not entail management control but is simply converting the Biden administration's subsidies into equity under the Trump administration." He continued, "For national security, we must manufacture semiconductors ourselves," emphasizing, "We cannot rely on Taiwan, which is only 80 miles from China and 9,500 miles from the U.S.."

On this day, Secretary Lutnick also mentioned trade negotiations with South Korea and Japan. He said, "The $900 billion investment (Japan $550 billion, South Korea $350 billion) by South Korea and Japan in the U.S. will be used to improve infrastructure that has been in competition with China," and "We must manufacture semiconductors, build pipelines, and construct nuclear power plants. Infrastructure must be established for both national security and economic security."

Reporter Jungsoo Hwang hjs@hankyung.com