Lee Jae-yong Meets Dutch Prime Minister, Personally Oversees Semiconductor EUV Equipment

Meeting with the Dutch Prime Minister after 6 years
Requesting ASML's cooperation in EUV equipment supply in the EU

Vice Chairman Lee Jae-yong of Samsung Electronics poses for a commemorative photo with Dutch Prime Minister Mark Rutte at the Prime Minister's office in The Hague, Netherlands, on the 14th (local time).

Samsung Electronics Vice Chairman Lee Jae-yong, who resumed overseas business activities after six months, met with the Prime Minister of the Netherlands to focus on discussions about 'semiconductor cooperation.' As South Korea and the Netherlands are leading countries in semiconductors, they joined forces to maximize 'cooperation synergy.' This meeting marks their first encounter in six years.

In particular, Vice Chairman Lee is reported to have discussed the supply issues of extreme ultraviolet (EUV) lithography equipment, which is essential for semiconductor fine processes. This is interpreted as him actively engaging in business to aggressively chase Taiwan's TSMC in the semiconductor foundry market, which is Samsung Electronics' future growth engine.

According to the business community on the 15th, Vice Chairman Lee met with Dutch Prime Minister Mark Rutte on the 14th (local time) at the Prime Minister's office in The Hague, Netherlands.

Samsung stated that Vice Chairman Lee and Prime Minister Rutte discussed comprehensive and strategic cooperation plans, including ▲expanding cooperation to strengthen cutting-edge foundry capabilities and ▲resolving global semiconductor supply chain issues. This is their first meeting since September 2016, six years ago.

A Samsung Electronics official explained, "This meeting can be seen as a step to strengthen cooperation with the Netherlands, a key country in the semiconductor industry." The Netherlands has a well-developed industrial ecosystem covering semiconductor research and development, design, equipment, and finished electronic products.

Vice Chairman Lee reportedly requested Prime Minister Rutte's cooperation to ensure the stable supply of ASML equipment, which is essential for expanding Samsung Electronics' cutting-edge foundry business. ASML, a Dutch company, is the only manufacturer worldwide of EUV equipment necessary for implementing sub-7-nanometer ultra-fine processes.

While Taiwan's TSMC, the number one foundry company, has secured over 100 EUV machines, Samsung Electronics has only 15. Since production cannot keep up with demand, securing equipment is more critical than ever for Samsung. Especially, to build a fine process production line at the second foundry to be established in Taylor, Texas, equipment contracts must be finalized within this year.

An industry insider said, "To compete with TSMC, Samsung must win the battle to secure EUV equipment," adding, "Strengthening cooperation with the Netherlands is an important matter that aligns with the new government's 'Semiconductor Superpower Construction' policy and Samsung's 'Vision 2030' strategy."

Interest in Vice Chairman Lee's global golden network is also rising, triggered by his meeting with Prime Minister Rutte, who is mentioned as the next chair of the EU (European Union) summit. Lee's global network extends beyond business leaders to world political and governmental leaders. Diplomats even regard Lee's network as a 'national diplomatic asset.' He is known to maintain close exchanges with global leaders such as U.S. President Joe Biden, former Presidents Trump, Obama, and Bush, Saudi Crown Prince Mohammed bin Salman, UAE President Mohammed bin Zayed, and Indian Prime Minister Narendra Modi.

Meanwhile, Prime Minister Rutte also spoke with then-President-elect Yoon Suk-yeol in March to discuss expanding cooperation in the semiconductor sector between the two countries. At that time, President Yoon proposed to Prime Minister Rutte, "Let's further expand cooperation between our two countries in the semiconductor industry, which is called the rice of future industries." Given Rutte's longstanding interest in innovation-based new industries such as ICT and electric vehicles, cooperation between the Netherlands and Samsung is also expected to expand beyond semiconductors.

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