Lee Min-hyung joined The Korea Times in 2014 and has worked as a journalist mainly in Korea’s finance, tech and automotive industry. He specializes in content creation, breaking news and in-depth analysis currently on transportation and mobility. You can reach him via mhlee@koreatimes.co.kr.
Korean, Dutch firms strengthen ties in chips, energy, mobility
President Yoon Suk Yeol, left, listens to Christophe Fouquet, second from right, chief business officer at ASML, while visiting the Dutch company's cleanroom at its headquarters in Amsterdam, the Netherlands, Tuesday. From left are Yoon, Willem-Alexander, king of the Netherlands, Fouquet. Joint Press Corps-Yonhap
By Lee Min-hyung
Semiconductor dialogue channel established between two countries
Leaders of major tech firms from Korea and the Netherlands agreed to elevate their partnerships in semiconductors, energy and mobility, in a joint move to lead the state-of-the-art tech industries here and abroad, Korea’s trade association said Wednesday.
The agreement was made during a bilateral CEO roundtable held in the Dutch capital of Amsterdam. A group of 20 business leaders and ranking government officials from both sides joined the meeting arranged on the sidelines of President Yoon Suk Yeol’s state visit to the European country, according to the Korea International Trade Association (KITA).
Korea’s business delegation was led by KITA Chairman Koo Ja-yeol. The attendees of the event included Samsung Electronics CEO Kyung Kye-hyun, SK hynix CEO Kwak Noh-jung and Hyundai Motor Vice President Kim Dong-wook. A group of business leaders from the Netherlands, such as ASML CEO Peter Wennink, also participated in the event.
“Samsung and ASML have developed with each other through the three-decade-long partnership,” Kyung said. “Under the close ties with ASML, Samsung has helped enhance the productivity of extreme ultraviolet lithography (EUV) machines, and plans to improve bilateral tech competitiveness by establishing a joint lab in Korea. The bilateral partnership will also contribute greatly to stabilizing the global supply chain and strengthening Europe’s semiconductor value chain.”
SK hynix, another top-tier chipmaker based in Korea, also pledged to step up its partnership with ASML for carbon neutrality.
“SK hynix is pushing ahead with innovation in our overall chip production processes through energy efficiency, waste reduction and recycling,” Kwak said. “After signing a memorandum of understanding with ASML, both sides agreed to co-develop hydrogen gas recycling technology. This will be the first exemplary case where the chip industry contributes to cutting greenhouse gas emissions.”
President Yoon Suk Yeol, third from left, speaks during a semiconductor business dialogue between Korea and the Netherlands at the headquarters of ASML in Veldhoven, Tuesday. From left are SK Group Chairman Chey Tae-won, ASML President and CEO Peter Wennink, Yoon, Dutch King Williem-Alexander and Samsung Electronics Chairman Lee Jae-yong. Joint Press Corps-Yonhap
The head of ASML also welcomed the partnership with the Korean chipmakers, saying that it will maintain close ties with Samsung and SK down the road.
“Considering Korea’s growth potential, ASML started constructing a new campus in Korea,” he said. “The cross-border partnership will help all the interested companies enhance and maximize benefits. ASML will keep solidifying ties with our key partners, including Samsung Electronics and SK hynix.”
Hyundai Motor also promised to expand its presence in the Netherlands by introducing more mobility solutions there.
“Hyundai Motor and Kia achieved an electric vehicle (EV) market share of 14 percent in the Netherlands last year, and became the top-selling EV maker there,” the Hyundai executive said. “Hyundai Motor Group is open to signing more partnerships with companies from the Netherlands, as the automaker is on track to develop hydrogen-powered cars, urban air mobility and delivery-focused robots.”
Meanwhile, Samsung and ASML decided to make a joint investment of 1 trillion won ($757.57 million) to build a new R&D center to develop next-generation chip production technologies. The governments of Korea and the Netherlands also agreed to open a new dialogue channel aimed at elevating the bilateral chip partnership.