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S. Korea seeks more investment from Netherlands in chips, new energy fields

By Yonhap

Published : Oct. 18, 2022 - 11:09

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Samsung Electronics executives and researchers pose with semiconductor wafers, produced by 3-nm technology, at the company’s chip-making complex in Hwaseong, Gyeonggi Province, on Thursday. (Samsung Electronics) Samsung Electronics executives and researchers pose with semiconductor wafers, produced by 3-nm technology, at the company’s chip-making complex in Hwaseong, Gyeonggi Province, on Thursday. (Samsung Electronics)

South Korea asked the Netherlands on Tuesday to make greater investments and enhance bilateral cooperation in semiconductors and such advanced industry fields as hydrogen and nuclear power generation, Seoul's industry ministry said.

Deputy Trade Minister Jeong Dae-jin made the request during a meeting with Hanneke Schuiling, the Dutch vice minister for foreign economic relations, in Seoul, according to the Ministry of Trade, Industry and Energy.

"Chung noted that the South Korean government will offer greater incentives for investment in strategic industry fields, such as semiconductors, and asked for South Korea to be considered as a No. 1 candidate place for additional investment," the ministry said in a release.

South Korea has been actively working to support ASML as the Dutch chip equipment maker plans to break ground next month to build a semiconductor cluster in the city of Hwaseong, some 40 kilometers south of Seoul, by earmarking 240 billion won (US$168.1 million), it added.

The Dutch official thanked South Korea for such deregulation efforts, and proposed active discussions on technology cooperation and nurturing manpower in the chip industry.

The two sides also shared the need for closer cooperation in the nuclear energy, hydrogen and other next-generation energy fields, according to the ministry. (Yonhap)