KOTRA Supports Our Companies' Entry into the European Semiconductor Supply Chain

On the 18th in Munich, Germany, 'Korea-Europe Semiconductor Day (KESD 2023)'

KOTRA will hold the ‘Korea-Europe Semiconductor Day (KESD)’ on the 18th in Munich, Germany, to support Korean companies' entry into the local semiconductor supply chain. The event was planned to help Korean semiconductor materials, parts, and equipment companies secure stable market channels in Europe. The event consists of a ‘professional conference’ introducing purchasing policies, collaboration strategies, and entry cases of European semiconductor companies including those in Germany, and a ‘one-on-one business consultation’ to discuss supply and cooperation plans for materials, parts, and equipment.

A total of 41 companies, including Korean and overseas firms, will participate in this event, which KOTRA is hosting for the first time this year to facilitate entry into the European semiconductor supply chain. Major local participants include Infineon, the world’s number one automotive semiconductor company, and Intel, which operates a semiconductor foundry business. Additionally, automakers such as BMW and parts companies like Vitesco, a first-tier supplier, will participate to discuss automotive semiconductor procurement plans.

The European Union (EU) finalized the ‘Semiconductor Act’ last July and set a goal to increase the EU’s share of the global semiconductor market from the current 10% to 20% by 2030 by investing 43 billion euros in public and private funds. To achieve this goal, semiconductor production facilities are being newly built and expanded, presenting a significant opportunity for Korean companies to enter the market.

At this event, KOTRA focused on two key points. First, it plans to support Korean companies in participating in the early stages of facility investment projects targeting global companies establishing semiconductor factories in Germany. There is an expectation that Korean companies can meet the demand of local companies aiming to build a stable supply chain, especially in the post-processing (testing and packaging) sector. Additionally, KOTRA will support Korean companies to be incorporated into the future car supply chains of German automakers such as BMW and Audi. With the expansion of E-mobility and autonomous driving, it is judged that various opportunities are emerging for Korean companies in both hardware and software sectors.

Kim Hyun-chul, head of KOTRA’s Europe Regional Headquarters, said, “As the movement to foster the regional supply chain in Europe is becoming concrete, we will discover and support various opportunities for Korean companies to be incorporated into the EU semiconductor value chain.” He added, “Semiconductors are a national strategic export item and can enable long-term stable transactions once supply is secured. We will fully utilize the opportunities in the new strategic market of Europe to pioneer export channels.”

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