South Korean President Yoon Suk Yeol embarked on a trip to the Netherlands, focusing on enhancing semiconductor cooperation between the two nations. President Yoon highlighted the critical role of high-tech chips in the global economy, with South Korea contributing approximately 60% of the world’s memory chip supply.
The Netherlands hosts ASML, a key player producing lithography equipment essential for semiconductor manufacturing. Despite geopolitical tensions impacting the semiconductor industry, Yoon emphasized the longstanding collaboration between South Korea and the Netherlands, crucial for maintaining stability in global semiconductor supply chains.
President Yoon acknowledged the strategic importance of the semiconductor industry amid growing global competition for technological dominance. The visit aims to solidify a “chip alliance” between South Korea and the Netherlands involving government, business, and academic sectors.
“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.
During the visit, Yoon plans to tour ASML’s facilities, marking a historic moment in the “Korea-Netherlands semiconductor alliance.” Discussions on chip cooperation take precedence as the president strives to establish a well-organized institutional framework to address global semiconductor supply chain challenges. South Korea’s commitment to boosting semiconductor collaboration extends to major countries, including the Netherlands, the United States, and Japan. The visit underscores the industry’s significance as a strategic asset, shaping the geopolitical landscape in terms of industry, technology, and security.