South Korea intends to establish ‘chip alliance’ with Netherlands

12/7/2023 7:12:58 AM

(MENAFN) South Korea intends to form a "chip alliance" with the Netherlands during President Yoon Suk Yeol's upcoming state visit next week, as announced by his office on Thursday.

Both nations are prominent figures in the global chip industry, which is currently experiencing political upheaval due to the competitive dynamics between China and the West for supremacy.

As part of his itinerary, Yoon is set to visit ASML in the Netherlands, a key player globally as the leading manufacturer of machines crucial for semiconductor production—the core components driving various technologies from consumer electronics to weaponry.

In June, the Dutch government made it mandatory for companies involved in producing equipment for semiconductor manufacturing to obtain permission for exporting to foreign clients, effective from September of the same year.

One of the aims of the next state trip is "to establish a 'semiconductor alliance' between South Korea and the Netherlands," declared Yoon's deputy national security advisor Kim Tae-hyo.

The office of President Yoon Suk Yeol stated that ASML has given him permission to tour their cleanroom facilities during his visit. These cleanroom facilities are highly regulated environments specifically designed for the manufacturing of ASML's products, ensuring a high level of precision and cleanliness. This makes President Yoon the first foreign leader to be granted access to these facilities.

Seoul is looking to "combine the Netherlands' advanced equipment and South Korea's advanced manufacturing capabilities," Kim declared.

MENAFN07122023000045015839ID1107553605

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.