TSMC's Plans For Kaohsiung Chip Factory Expansion Remains Intact, Says Taiwan Economy Minister - Taiwan Semiconductor (NYSE:TSM)

Taiwan Economy Minister Wang Mei-hua snubbed reports of Taiwan Semiconductor Manufacturing Company Ltd TSM slowing down the expansion of a new chip factory in the island's southern city of Kaohsiung.
"TSMC making Taiwan its global R&D hub and manufacturing hub has not changed," Reuters cites Wang on the sidelines of parliament. "TSMC investing in Taiwan, investing in Kaohsiung, also has not changed."
The primary Apple Inc AAPL supplier broke ground in 2022 on its Kaohsiung plant, which will produce mature 28-nm semiconductors.
Also Read: TSMC, Samsung Likely To Feel Pinch Of Global Foundry Industry Slowdown In 2023: Report
In 2021, TSMC said the Kaohsiung expansion would include advanced 7-nm chips before dumping the plans.
In January, TSMC shared softer demand expectations leading to cutting its capital expenditure this year to $32-$36 billion from $36.3 billion last year.
TSMC has, in recent years, ramped up investments abroad, announcing new chip factories in the U.S. and Japan.
Price Action: TSM shares traded lower by 1.11% at $88.25 on the last check Wednesday.
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