Yoon plans to boost semiconductor cooperation with Netherlands

Dec 11, 2023, 08:09 am

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President Yoon Suk-yeol and First Lady Kim Keon-hee wave hands, as they head to London for a state visit, at Seoul Airport in Seongnam, Gyeonggi Province, on Nov. 20, 2023. / Source: Yonhap News

AsiaToday reporter Hong Sun-mi

President Yoon Suk-yeol said South Korea plans to “significantly” strengthen semiconductor cooperation with major countries such as the Netherlands, the United States, and Japan.

“Discussions on semiconductor cooperation are the top priority for the trip,” Yoon said in a written interview published by the French news agency AFP on Sunday, a day before his state visit to the Netherlands.

The presidential office also explained that Yoon’s state visit aims to establish a “chip alliance” with the Netherlands, which would involve governments, businesses, and universities from both countries. “As semiconductors emerge as strategic assets in terms of industry, technology and security, geopolitical risks surrounding global supply chains are expanding,” Yoon said.

During the state visit, Yoon will visit the headquarters of ASML, the world’s sole developer of extreme ultraviolet lithography (EUV) machines that are essential for improving chip-manufacturing processes. “The ASML visit will mark a crucial turning point for the Korea-Netherlands semiconductor alliance,” Yoon said.

ASML’s EUV exposure equipment is essential to produce cutting-edge semiconductors, but securing equipment is directly linked to sales due to limited production. Yoon’s visit to the ASML headquarters along with Samsung Electronics Chairman Lee Jae-yong and SK Group Chairman Chey Tae-won, the major customers of ASML, can be seen as a move to put strength in securing equipment for Korean chipmakers.

“Semiconductors are the linchpin of Korea-Netherlands cooperation,” Yoon said. “The global semiconductor industry’s stable and sustainable growth is in the core interest of both countries.”

He said the two countries share a common view that “the economy is now synonymous with security and vice versa,” and that he expects “a more systematic institutional framework to focus on global semiconductor supply chain issues.”

Meanwhile, Yoon will embark on a four-day state visit to the Netherlands on Monday. He will become the first South Korean president to pay a state visit to the Netherlands since the two countries established diplomatic ties in 1961.

#Yoon Suk-yeol #semiconductor #Netherlands #ASML