President Yoon from South Korea to visit the Netherlands with focus on semiconductors

President Yoon from South Korea to visit the Netherlands with focus on semiconductors
President Yoon from South Korea to visit the Netherlands with focus on semiconductors

Yoon Suk Yeol’s visit to the Netherlands will most likely revolve around semiconductor cooperation and a potential “chip alliance” with government and industry leaders.

South Korean President Yoon Suk Yeol will travel to the Netherlands for a state visit on Monday, with semiconductor cooperation and a potential “chip alliance” likely to be the focus of his conversations with political and industry leaders.

The visit is the first by a South Korean leader since the two countries established diplomatic ties in 1961 and created a partnership centered on industrial supply chains, agriculture, science, and culture.

Both South Korea and the Netherlands are major players in the global semiconductor industry. Yoon stated ahead of the visit that increasing cooperation is critical at a time when global competition for technologies is escalating, with microchips becoming a geopolitical hotspot between the United States and China.

Yoon’s visit to ASML, the world’s leading maker of advanced chip-making equipment, has been described as “a critical turning point for the Korea-Netherlands semiconductor alliance.”

“The global environment surrounding the semiconductor industry is rapidly changing in tandem with competition for technological supremacy and supply chain restructuring,” Yoon said.

The Netherlands has joined the United States and Japan in restricting the sale of advanced extreme ultraviolet (EUV) semiconductor devices in China, the country’s third-largest market after Taiwan and South Korea.

According to Yoon’s office, ASML, a supplier to South Korean chip titans Samsung Electronics and SK Hynix, is investing 240 billion won ($181 million) in a new assembly facility in South Korea.

According to the presidential office, Yoon will be accompanied to ASML headquarters by Samsung Electronics Executive Chairman Jay Y. Lee and SK Group Chairman Chey Tae-won.

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