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UDN: South Korean President Visits the Netherlands to Form A Chip Alliance

Taiwanese news group United Daily News (UDN) recently reported that South Korean President Yoon Seok-yue is in the Netherlands for a state visit. Yoon’s trip is focused on increasing cooperation between the two countries related to the semiconductor industry — he said that this trip marked a key turning point for the “South Korea-Netherlands Semiconductor Alliance” and that discussing chip cooperation was the “top priority” of his visit.

Yoon stated in an interview that high-tech chips are the lifeblood of the modern global economy, and that South Korea accounts for about 60 percent of the world’s supply of memory chips. He said that the Netherlands is home to semiconductor production equipment manufacturer ASML, and the two countries have been cooperating “in an exemplary manner” for many years, contributing to the stability of the global semiconductor supply chain.

The semiconductor industry is being buffeted by geopolitical turmoil. ASML supplies South Korea’s major chip manufacturers Samsung and SK Hynix. During President Yoon’s visit, he will visit the ASML headquarters. The “South Korea-Netherlands Semiconductor Alliance” is expected to include the countries’ respective governments, enterprises and universities. This is the first time a South Korean head of state has paid a state visit to the Netherlands since 1961, when South Korea and the Netherlands first established diplomatic relations.

Source: UDN, December 11, 2023