RT.com
25 Nov 2021, 14:50 GMT+10
Taiwan is considering cooperation with Eastern European states on semiconductors amid the global chip supply shortage, a Taiwanese minister revealed on Thursday.
"The whole semiconductor supply chain is enormous. Many countries can play different roles," Taiwan's National Development Council head, Kung Ming-hsin, told reporters following last month's visit to Slovakia, the Czech Republic, and Lithuania.
He said all three countries expressed readiness to jointly work on semiconductor chips with Taiwan, which holds a 63% share of the global semiconductor market.
The European Commission in September proposed a new piece of legislation to increase chip production amid global shortages that forced delays in many industries, with carmakers hit the hardest. The so-called 'Chips Act' is aimed to boost chip research, domestic semiconductor production capacity, and international cooperation on chip manufacturing.
Kung said it was a difficult task for Europe to do on its own.
"So they hope to cooperate with Taiwan," he explained.
The official noted that Taiwan currently plans to set up working groups with the three countries to figure out how exactly they can cooperate on chips. It will also give European partners scholarships for technical training in the semiconductor industry.
Taiwan holds a near-monopoly in global semiconductor manufacturing, with the Taiwan Semiconductor Manufacturing Company (TSMC) accounting for 54% of the global chip market share. Major US tech companies, including Apple and Nvidia, get up to 90% of their semiconductors from Taiwanese manufacturers.
For more stories on economy & finance visit RT's business section
(RT.com)
Get a daily dose of Paris Guardian news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Paris Guardian.
More InformationMADRID, Spain: Liverpool footballer Diogo Jota and his younger brother, André Silva, have died in a car accident in Spain. Spanish...
LONDON, U.K.: An unrelenting heatwave sweeping across Europe has pushed early summer temperatures to historic highs, triggering deadly...
President Donald Trump's plans to build a space-based Golden Dome missile defense shield have drawn immediate criticism from China,...
NEW YORK CITY, New York: Paramount has agreed to pay US$16 million to settle a lawsuit brought by U.S. President Donald Trump over...
LONDON, U.K.: British Prime Minister Keir Starmer won a vote in Parliament this week to move ahead with changes to the country's welfare...
WASHINGTON, D.C.: President Donald Trump will meet Israeli Prime Minister Benjamin Netanyahu at the White House on Monday. President...
FRANKLIN, Tennessee: Hundreds of thousands of Nissan and Infiniti vehicles are being recalled across the United States due to a potential...
REDMOND, Washington: Microsoft is the latest tech giant to announce significant job cuts, as the financial strain of building next-generation...
LONDON UK - U.S. stock markets were closed on Friday for Independence Day. Global Forex Markets Wrap Up Friday with Greeback Comeback...
SANTA CLARA, California: Nvidia came within a whisker of making financial history on July 3, briefly surpassing Apple's all-time market...
SACRAMENTO, California: California's multibillion-dollar farms are facing a growing crisis—not from drought or pests, but from a sudden...
WASHINGTON, D.C.: President Donald Trump says the United States could soon reach a trade deal with India. He believes this deal would...