President Yoon: "ASML Investment Helps Enhance Economic Security Between Both Countries"

Korea-Netherlands Leaders Hold 'Semiconductor Business Roundtable'... Discuss Strengthening Supply Chains with Semiconductor Executives

President Yoon Suk-yeol is taking a commemorative photo with Dutch Prime Minister Mark Rutte on the 17th at the Yongsan Presidential Office building in Seoul before their summit meeting. /

[Asia Economy Reporter Baek Kyunghwan] On the 17th, President Yoon Suk-yeol met with Dutch Prime Minister Mark Rutte to discuss enhancing economic security between the two countries, focusing on the semiconductor industry. President Yoon evaluated the semiconductor cluster 'New Campus' being built by the global semiconductor equipment company Netherlands ASML in Hwaseong, Gyeonggi Province, saying it "will also help enhance economic security between Korea and the Netherlands."

On the afternoon of the same day, ahead of the Korea-Netherlands summit, President Yoon held a 'Semiconductor Business Leaders Meeting' at the Yongsan Presidential Office with major Korean semiconductor company leaders, along with Prime Minister Mark Rutte and ASML Chairman Peter Wennink. Attendees included Samsung Electronics Chairman Lee Jae-yong, SK Chairman Chey Tae-won, National Security Advisor Jeffrey van Leeuwen, and Foreign and Defense Secretary Peter-Jan Rosenberg.

Previously, President Yoon had focused efforts on nurturing the semiconductor industry as a core national agenda and developing it as a national advanced strategic industry. In October, he also met with Gary Dickerson, CEO of Applied Materials, the world's number one semiconductor equipment company based in the U.S. This meeting was arranged in conjunction with Prime Minister Mark Rutte's visit to Korea and the groundbreaking ceremony of ASML's 'Hwaseong New Campus' held the day before.

At the meeting, President Yoon stated that ASML's Hwaseong New Campus, to be established in Hwaseong, Gyeonggi Province, "will greatly contribute to strengthening the competitiveness of our semiconductor industry" and "will also help enhance economic security between Korea and the Netherlands." In particular, President Yoon emphasized that if ASML establishes a semiconductor equipment production plant or R&D center in Korea following the establishment of a parts remanufacturing center and training center, Korea and the Netherlands will be able to respond more effectively to the global semiconductor supply chain restructuring. Chairman Wennink responded to the request for additional investment in Korea by expressing "gratitude for the Korean government's support and ASML's intention to strengthen cooperation with semiconductor companies, its Korean customers, stating that this is the first phase of investment and that additional opportunities are being carefully considered."

In response, President Yoon expressed the government's commitment, saying, "According to the 'Strategy to Achieve Semiconductor Superpower' established last July, we are making every effort to promote corporate investment, nurture talent, and secure leading technologies," and added, "We will create a business-friendly environment through deregulation and tax support to make Korea the optimal investment destination."