[Exclusive] EU Commissioner Visiting Korea to Attract Semiconductor Investment... Meeting Samsung and SK Hynix

Thierry Breton, European Union (EU) Commissioner for Internal Market
[Image source=EPA Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] As semiconductor competition between the United States and China intensifies, Europe has officially joined the hegemony battle by sending love calls to Korean companies such as Samsung Electronics and SK Hynix. Thierry Breton, the European Union (EU) Commissioner for Internal Market responsible for semiconductor issues, is scheduled to visit Korea in person to request cooperation for investment in production facilities within Europe. It is analyzed that the unprecedented supply shortage following the US-China trade conflict and the COVID-19 pandemic has acted as a catalyst for the EU to build its semiconductor ecosystem.

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According to industry sources on the 30th, Commissioner Breton arrived in Korea the day before and will carry out his visit schedule on the 30th and the following day, October 1st. He first visited Japan for two days starting on the 28th before moving to Korea, marking an Asian country visit aimed at attracting investment to expand semiconductor production facilities. His visit to Korea took place amid growing global semiconductor supply chain issues and the EU’s efforts to build a semiconductor ecosystem.

During his visit, Commissioner Breton will meet with senior officials from Samsung Electronics and SK Hynix. At Samsung Electronics, it is expected that Choi Si-young, President of the Foundry (semiconductor contract manufacturing) division, and at SK Hynix, Lee Seok-hee, President, will attend the meeting. At this meeting, Commissioner Breton is expected to propose expanding investments such as factory establishment in Europe and forming technological cooperation.

During his visit to Japan, Commissioner Breton stated, "The EU aims to strengthen private partnerships to expand semiconductor production capacity. We welcome corporate investments," indicating his intention to attract Japanese semiconductor companies to promote semiconductor production expansion in Europe. Considering Korea’s position in the semiconductor market, similar discussions are expected to take place.

Commissioner Breton will also seek cooperation with the Korean government. He is scheduled to hold talks with Moon Seung-wook, Minister of Trade, Industry and Energy; Yeo Han-gu, Director-General for Trade at the Ministry of Trade, Industry and Energy; and Lim Hye-sook, Minister of Science and ICT, to discuss global semiconductor supply chain issues and the establishment of digital partnerships.

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