AFP – South Korean President Yoon Suk Yeol will leave for the Netherlands today for a trip he told AFP would focus on boosting crucial semiconductor cooperation between the two global chip powerhouses.
High-tech chips are the lifeblood of the modern global economy, used in everything from weapons to cars, and South Korea accounts for about 60 per cent of the world’s supply of memory chips, Yoon told AFP.
“The Netherlands is home to ASML, which produces the lithography equipment that makes semiconductors, and for years the two countries have worked together in an exemplary manner, contributing to the stability of global semiconductor supply chains,” Yoon said.
But the industry is being buffeted by geopolitical turbulence, with semiconductors a flashpoint issue between the United States (US) and China, which are locked in a fierce battle over access to chip-making technology and supplies. The Netherlands recently joined the US and Japan in imposing export restrictions on advanced chip-making equipment.
“As competition between countries and regions intensifies to gain hegemony over emerging technologies, the semiconductor industry is strategically more important than ever before, which makes this visit to the Netherlands especially meaningful,” Yoon said.
“Semiconductors are the linchpin of Korea-Netherlands cooperation,” he said. “The global semiconductor industry’s stable and sustainable growth is in the core interest of both countries.”
“South Korea and the Netherlands share a common understanding that the economy is now synonymous with security and vice versa”, the president added.
ASML supplies South Korea’s major chip makers, Samsung Electronics and SK Hynix.
During the state visit, Yoon will tour the ASML headquarters, including the company’s highly controlled cleanroom manufacturing facilities, becoming the first foreign leader to do so.
