Korean Samsung recently announced that the company plans to build a new chip fabrication plant in Taylor, Texas of the United States for US$17 billion, according to a press release published by Samsung on November 24. With the land area of approximately 5 million square meters and the proximity to its existing plant in Austin, the new advanced chip-making fab is estimated to begin construction in the first half of 2022 and kick off mass production in the second half of 2024. Upon completion, the new plant will produce advanced chips for mobile, 5G, high-performance computing, and AI applications. The capacity of the new fab, however, is not yet revealed. During the forecasted period 2021-2024, Taiwan’s leading research institute MIC (Market Intelligence & Consulting Institute) estimates Taiwan’s foundry industry will witness a CAGR (Compound Annual Growth Rate) of 10%, followed by IC design’s 7.9%, memory’s 7.5%, and IC packaging and testing’s 7.2%. Overall, the Taiwanese semiconductor industry will still perform better than the global average during 2021-2022. Global semiconductor market is estimated to grow 25.1% and 10.1% year-on-year in 2021 and 2022, reaching US$550.9 billion and US$606.5 billion, respectively, according to MIC.