SEOUL, Dec. 7 (Yonhap) – President Yoon Suk Yeol said Thursday that his upcoming state visit to the Netherlands will help strengthen semiconductor cooperation between the two countries and contribute to the development of South Korea's defense industry and exports.
Yoon made the remark while presiding over a meeting discussing strategies for defense industry exports, an area that has made significant strides amid increased demand for weapons from countries in Europe, Southeast Asia, the Middle East and beyond.
According to the defense ministry, South Korea was one of the biggest arms exporters last year, achieving record-breaking weapons exports of US$17.3 billion, sharply up from $7.25 billion in 2021.
"In order for our defense industry to make a further leap, securing a stable supply chain of semiconductors and other materials, parts and equipment is extremely important," Yoon said during the meeting held at the office of aerospace industrial company Hanwha Aerospace in Seongnam, just south of Seoul. "Next week on the occasion of my state visit to the Netherlands, I plan to focus discussions on ways to strengthen the two countries' semiconductor alliance."
Yoon is scheduled to visit the Netherlands from Monday to Thursday next week. During the trip, he plans to visit the headquarters of top chipmaking equipment manufacturer ASML in Veldhoven.
"I believe semiconductor cooperation with the Netherlands, with its world-leading lithography technology, such as EUV (extreme ultraviolet lithography), will greatly contribute to strengthening our defense industry capabilities and create new opportunities for defense industry exports," he said.
During the meeting, the government announced plans to foster five key advanced industry sectors -- space, artificial intelligence, manned and unmanned systems, semiconductors and robots.
Yoon later met with a group of young people working in the defense industry at the office of LIG Nex1, an aerospace manufacturer and defense company, located nearby.
He promised to provide them with just compensation so they feel rewarded for their work.
Photo from Yonhap News
