Samsung Electronics Vice Chairman Lee Jae-yong Departs for the Netherlands... Overseas Business Trip After 5 Months

[Asia Economy Reporter Ki-min Lee] Samsung Electronics Vice Chairman Lee Jae-yong departed for an overseas business trip to the Netherlands, Europe, on the 8th.

According to business circles and Samsung Electronics, Vice Chairman Lee left Gimpo Airport in the afternoon on a chartered flight bound for the Netherlands. After visiting the Netherlands, he is expected to hold business meetings with European business leaders in countries such as Switzerland. This is the first overseas business trip for Vice Chairman Lee in about five months since inspecting the NAND flash factory in Xi'an, China, last May.

The specific plans and schedule of Vice Chairman Lee have not been confirmed. Samsung stated, "It is true that Vice Chairman Lee departed for the Netherlands," but added, "We do not know the specific destinations or purposes of the visit."

However, business circles speculate that this trip is likely to be for reviewing business strategies related to Samsung Electronics' semiconductor division.

In the Netherlands, where Vice Chairman Lee is visiting, there is ASML, a company that exclusively supplies semiconductor extreme ultraviolet (EUV) lithography equipment to Samsung Electronics and TSMC. As of the end of the second quarter, Samsung Electronics also holds a 1.5% stake in ASML, valued at over 2 trillion KRW.

Because of this, there is speculation that discussions between Vice Chairman Lee and ASML executives regarding the supply of EUV equipment will take place.

Additionally, the Netherlands is home to NXP, a leading company in automotive system semiconductors. NXP was previously targeted for acquisition by Qualcomm, but the deal fell through.

Since Switzerland hosts the semiconductor company STMicroelectronics, it is expected that Vice Chairman Lee will meet with global semiconductor companies across Europe to discuss business directions and other matters.

Some speculate that after this European trip, Vice Chairman Lee may visit Asian countries such as Japan and Vietnam, where the business fast-track (simplified entry procedures) is applied.

This content was produced with the assistance of AI translation services.