Vice Chairman Lee Jae-yong to Visit the Netherlands Next Week... Likely to Request Equipment Supply from ASML
Business Trip from 7 to 18
Possible Demand for 'Scarce' EUV Equipment Supply
Vice Chairman Lee Jae-yong of Samsung Electronics returning to Korea through Seoul Gimpo Business Aviation Center after a ten-day business trip to the United States on November 24 last year. Photo by Kim Hyun-min kimhyun81@
View original image[Asia Economy Reporter Moon Chaeseok] Samsung Electronics Vice Chairman Lee Jae-yong will go on a business trip to the Netherlands from the 7th to the 18th. It appears to be for negotiations on the supply of EUV (Extreme Ultraviolet) lithography equipment from ASML, which is essential for semiconductor fine processes.
On the 2nd, Samsung's legal counsel submitted a letter of non-appearance due to the business trip at the Seoul Central District Court during the trial of Vice Chairman Lee Jae-yong on charges related to the illegal merger of Samsung C&T and Cheil Industries. The court recognized his absence for the trials on the 10th and 16th, stating it was "due to business necessity."
Vice Chairman Lee's destination is presumed to be ASML, the world-renowned semiconductor equipment company in the Netherlands. The trip is known to be for the supply of EUV lithography equipment. ASML's headquarters in the Netherlands exclusively produces EUV lithography equipment. Lee also visited ASML headquarters in October 2020 to secure semiconductor equipment.
Recently, with the global explosion in semiconductor demand, a shortage of EUV equipment has become prominent. Samsung Electronics is also experiencing difficulties in equipment procurement. Although each unit costs about 200 billion KRW, only about 40 units can be produced annually, making them hard to obtain. Vice Chairman Lee is expected to meet directly with ASML management to negotiate equipment supply.
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Regarding the trial, the prosecution indicted Vice Chairman Lee in September 2020, judging that Samsung Group's Future Strategy Office spread false information to inflate Cheil Industries' stock price and lower Samsung C&T's stock price when pushing for the merger of Samsung C&T and Cheil Industries in 2015. Lee's side claims the merger was a legitimate decision made out of business necessity and that neither company suffered losses from the merger, asserting his innocence.
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