"We will revive Intel's glory of technology"
Enhancing foundry competitiveness through prompt and proactive investment
Will hire thousands of engineers
Established partnerships with Samsung Electroni
“The key to Intel's 'IDM 2.0' strategy is speed and flexibility. In addition to making quick investments, we are also transitioning into a flexible organization and business system that can accommodate any customer. Empathizing with the new CEO’s enthusiasm, the employees also gained confidence.”
Pat Gelsinger, the new Intel CEO, took office in February. And in less than 100 days, Intel announced the 'IDM 2.0' strategy with the goal of entering the foundry business with a decision to invest $20 billion in the United States. It also expanded its production facilities in New Mexico and chose Israel as one of its semiconductor R&D bases.
President of Intel Korea Myung-sook Kwon evaluated this move as a 'blitzkrieg' and emphasized that the CEO Gelsinger wants to move and produce results quickly amidst the market rampant with lip service, superficial investments.
"Speed is very important for a strategic preemptive investment, and the new CEO is showing leadership with his broad steps. This investment will bear its fruits through production of 7-nano chips in 2023," said President Kwon.
Intel expects this year’s semiconductor production to show double-digit growth from last year. This is also the result of Intel's infrastructure investment.
While such a large amount of capital investment in infrastructure is drawing the public's attention to one side, Intel is concerned more about the people who are at the center of change. To revive 'Intel's glory of Technology', the role of engineers cannot be neglected. This is the reason Intel has recently accelerated in securing engineers.
President Kwon said “We are focusing greatly on talent, especially engineers, and are strengthening their capabilities these days. Intel has already hired about 2,000 engineers this year and plans to hire thousands more in the future.”
Flexibility is paralleled to the speed battle of investment and talent acquisition. Although there are criticisms that investments in foundries have centered on the United States and Europe according to IDM 2.0, President Kwon said, “Just as Intel supports clients around the world, foundries also target global customers.”
Intel has already secured long-term partnerships with foundry manufacturers such as Samsung Electronics and TSMC. Although they are competitors, but they are always willing to join hands to meet customer needs. President Kwon believes that it is difficult to respond to a variety of customers without being flexible.
Intel's flexibility has also permeated into Intel Korea’s businesses. When President Kwon became the head of Intel Korea in 2015,the company’s main business was limited to specific products such as PCs and servers. Now, its business areas have expended to 5G (5G) mobile communication, Internet of Things (IoT), and artificial intelligence (AI) and its clients have been diversified as well.
President Kwon said, "We are pioneering new areas much faster than before and are continuing experimental investment. In that sense, the domestic market is more valuable beyond our consumption market."
President Kwon said that one of Intel's roles is "to expand the Korean market globally," meaning that if domestic companies collaborate with Intel, they can co-create innovative products for the entire global market.
President Kwon said, “Innovative Korean companies and Intel will continue to create synergies through collaboration and joint investment. The expansion of external foundries for IDM 2.0 is also part of this strategy.”
By staff reporter ,Dong-jun Kwon ( djkwon@etnews.com)