Lee Jae-yong Returns from Europe Business Trip... Leaves Positive Impressions While Repeatedly Emphasizing 'Technology' (Comprehensive)

Hungary, Germany, Netherlands, Belgium, France Visit
"First, Second, and Third is Technology... I Will Work Hard"

Samsung Electronics Vice Chairman Lee Jae-yong returned to Korea on the 18th after an 11-night, 12-day business trip to Europe, arriving at the Seoul Gimpo Business Aviation Center in Gangseo-gu, Seoul, and answered questions from the press. It is reported that Vice Chairman Lee visited Germany, the Netherlands, and France, meeting with strategic partners specializing in semiconductor equipment, electric vehicle batteries, and 5th generation (5G) mobile communications to discuss ways to strengthen cooperation. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Park Sun-mi] "It was good." This was the first thing Vice Chairman Lee Jae-yong of Samsung Electronics said upon returning home after an 11-night, 12-day business trip to Europe. During his visits to client companies, partners, and research institutes in Hungary, Germany, the Netherlands, Belgium, and France, Vice Chairman Lee engaged in broad cooperation and discussions not only on next-generation semiconductor technology and batteries but also on Samsung's future growth engines, concretizing the 450 trillion won investment plan to be carried out over the next five years.

After arriving on the morning of the 18th via Gimpo Business Aviation Center, Vice Chairman Lee told reporters asking about his trip, "(The Europe trip) was good," adding, "I visited ASML (a Dutch semiconductor equipment company) and the semiconductor research institute imec, where I was able to get a sense of how next-generation semiconductor technology will develop." Regarding his itinerary, he said, "I also visited the battery factory in Hungary and met with BMW, one of our customers. I also went to Harman Kardon," adding, "I could feel firsthand how rapidly the automotive industry is changing."

He further stated, "Going to Europe made the Russia-Ukraine war feel much more real," and said, "There is a lot of market confusion, change, and uncertainty, but what we (Samsung) need to do is bring in good people and create a flexible culture that allows the organization to adapt to predictable changes. And no matter how you think about it, first, second, and third is technology. We will work hard."

Vice Chairman Lee embarked on his Europe trip on the 7th, just two weeks after deciding to invest 450 trillion won over the next five years focusing on future new businesses such as semiconductors, bio, and new growth information technology (IT). The places visited during this trip included Hungary, Germany, the Netherlands, Belgium, and France. Lee, who was released on parole in August last year, previously traveled to the United States in November and to the Middle East (UAE) in December of the same year.

Lee Jae-yong Emphasizes 'Technology' After Checking Batteries and Semiconductors

The first place Vice Chairman Lee visited during this Europe trip was the Samsung SDI battery factory in Hungary. Samsung SDI executives, including CEO Choi Yoon-ho, accompanied him. Afterwards, in Germany, he met with BMW, one of Samsung SDI's customers. It is speculated that Vice Chairman Lee discussed expanding electric vehicle battery supply and establishing a battery joint venture with BMW executives.

Vice Chairman Lee also paid close attention to efforts to secure advanced semiconductor technology during this Europe trip. In The Hague, Netherlands, he met with Dutch Prime Minister Mark Rutte to discuss comprehensive and strategic cooperation plans, including ▲expanding collaboration to strengthen cutting-edge foundry capabilities and ▲resolving global semiconductor supply chain issues.

He also visited the ASML headquarters in Eindhoven, Netherlands, where he met with CEO Peter Wennink and other executives to discuss ways to strengthen cooperation between the two companies. Vice Chairman Lee and ASML executives broadly discussed ▲future semiconductor technology trends, ▲semiconductor market outlook, ▲smooth supply of EUV lithography equipment essential for implementing fine processes for next-generation semiconductor production, and ▲mid- to long-term business directions for both companies.

Additionally, he visited imec, Europe's largest comprehensive semiconductor research institute located in Leuven, Belgium, where he met with CEO Luc Van den Hove to discuss the latest technologies and research and development directions in the semiconductor field. It was confirmed that Vice Chairman Lee received an introduction to advanced research projects underway at imec, including ▲artificial intelligence (AI), ▲bio and life sciences, and ▲future energy, and inspected the research and development site beyond cutting-edge semiconductor process technology.

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