As the first South Korean leader to visit the Netherlands since the two countries established relations in 1961, President Yoon Suk Yeol wants to incorporate Seoul's strategic goals into this special visit.
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| South Korean President Yoon Suk Yeol (right) and Dutch King Willem-Alexander during a welcoming ceremony at a square in Amsterdam, December 12. (Source: Reuters) |
Speaking ahead of his four-day visit to the Netherlands, South Korean President Yoon Suk Yeol affirmed that in the context of fierce technological competition between countries and regions, the semiconductor industry is gradually taking on a strategic role, and this speaks to the special significance of his visit to the Netherlands.
Thus, not outside the general technological flow of the world, Seoul has identified the key goal of promoting semiconductor cooperation with the Netherlands - where ASML, the company in charge of producing the world's only extreme ultraviolet (EUV) lithography machine, is headquartered. It can be said that the trip is the latest proof of Mr. Yoon Suk Yeol's commitment to enhancing Korea's technological and semiconductor potential.
Strategic basis
Since the beginning of his term, the President of South Korea has strived to realize the above goal through policies and practical activities. Specifically, three months after taking office, Mr. Yoon Suk Yeol announced the “National Strategic Technology Development Plan”, aiming to integrate strategic technologies into the social and security system in the era of global technological competition.
In that spirit, South Korea is developing 12 strategic technologies, including semiconductors, which are seen as key to Seoul's vision.
This plan later became the premise for Mr. Yoon Suk Yeol to implement in reality. At the invitation of the US, South Korea joined the Chip 4 Alliance and held an online meeting in February 2023, aiming to strengthen the semiconductor supply chain that was disrupted in the context of the global crisis caused by the Covid-19 pandemic.
In May 2023, South Korean Trade Minister Ahn Duk-geun met with his Chinese counterpart Wang Wentao on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit. The two countries decided to strengthen cooperation in the semiconductor sector and maintain the stability of the industrial supply chain.
Not only shaking hands with Beijing, Seoul also tightened relations with Washington, demonstrated through the meeting between South Korean National Security Advisor Cho Tae-yong and his US counterpart Jake Sullivan at the South Korean Presidential Office on December 9.
Here, the two sides agreed to strengthen cooperation in new generation technology, especially promoting cooperation between semiconductor technology centers.
Therefore, this visit to the Netherlands is expected to continue the previous efforts of the Yoon Suk Yeol administration to enhance Korea's technological potential and semiconductor competitiveness.
Partner Development
Ahead of the trip, the administration of President Yoon Suk Yeol has repeatedly emphasized that the focus of the agenda is technology and semiconductors.
South Korea's Deputy National Security Adviser Kim Tae-hyo said on December 7 that the country intends to combine high-tech equipment from the Netherlands with South Korea's manufacturing capabilities to optimize the complementarity of the semiconductor value chain; Seoul will also promote the building of a semiconductor alliance between the two countries, involving the government, businesses and universities. Meanwhile, Yoon Suk Yeol expressed hope that strengthening cooperation with the Netherlands in the semiconductor sector will help develop the Korean defense industry.
During the visit, on December 12, the President of the Republic of Korea, along with the King of the Netherlands, Chairman of Samsung Electronics Lee Jae-yong and Chairman of SK Group Chey Jae-won visited ASML company.
Here, the Korean leader affirmed that the Netherlands is the headquarters of ASML, which produces EUV machines, which are important components for semiconductor production. Therefore, the visit to ASML marks an important turning point for the Korea-Netherlands semiconductor alliance.
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| South Korean President Yoon Suk-yeol (front), wearing protective clothing, waves to workers during a tour of semiconductor equipment maker ASML in Veldhoven, the Netherlands, on Dec. 12. (Source: Yonhap) |
In addition, the fact that the Chairmen of two Korean technology corporations accompanied President Yoon Suk Yeol to ASML has important implications, opening up cooperation between businesses of the two countries.
SK Group has started mass production of mobile DRAM using EUV equipment since July 2021. In order to stabilize the chip production process, the company is trying to buy more EUV machines. Therefore, Mr. Chey Tae-won's meeting with ASML's leaders opens up the hope of signing a contract to import more EUV machines.
Furthermore, ASML also plans to invest about 1 trillion won ($761 million) with Samsung Electronics to establish a research facility on advanced chip processing technology in Korea.
Also during the visit, South Korean Trade Minister Ahn Duk-geun signed a memorandum of understanding with his Dutch counterpart to establish an academy for advanced semiconductor technology, which will provide training programs for students from Eindhoven University of Technology and Korean institutions.
Thus, it is no coincidence that President Yoon Suk Yeol chose the Netherlands as the destination for his visit, because Seoul wants to take advantage of Amsterdam's semiconductor capabilities in general and ASML in particular, to strengthen the country's internal strength in the technology sector. The trip to the Netherlands is not only in line with the "National Strategic Technology Development Plan" that Mr. Yoon Suk Yeol proposed at the beginning of his term, but also helps Korea catch up with the world's digital transformation trend.
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