Amsterdam: Trade Minister Yeo Han-koo has discussed South Korea's cooperation with the Netherlands in semiconductors, logistics, and investment during his visit to Amsterdam, his office said Friday. Yeo met with the Dutch Economic Affairs Minister Vincent Karremans to discuss expanding the two countries' cooperation in semiconductors, batteries, and critical minerals, agreeing to push for an expansion of the bilateral partnership.
According to Yonhap News Agency, the two sides agreed that their chip collaboration serves as a core pillar of stabilization for global supply chains while exchanging views on the conflict between the Netherlands and China over automobile chipmaker Nexperia. In September, the Dutch government decided to take supervisory control of Nexperia, a Netherlands-based firm that was acquired by China's Wingtech Technology, citing risks to Europe's economic security. The move triggered China to restrict exports of Nexperia's chips finished in the country, causing disruptions in the global car industry.
Yeo and Karremans also reached a consensus on the need to support and protect Korean battery firms investing in the European Union (EU) under the fast-changing industrial ecosystem in the region. "The Netherlands is the European nation that has made the largest investment in South Korea and a key trade and investment partner for us in semiconductor and other advanced industries," Yeo said in a press release, vowing efforts to further solidify "forward-looking" economic ties between the two countries.
During his visit to the Netherlands, Yeo met with the Port of Rotterdam Authority to discuss ways to improve logistics cooperation for the digital transition of the logistics industry and expansion of the use of eco-friendly energy. He also met with officials from Korean companies operating in the country, such as leading instant noodle maker Samyang Foods Inc., to discuss measures to resolve non-tariff barriers hindering the expansion of their business in Europe.
In addition, the trade minister held a meeting with INGKA Investment, a Dutch company investing in renewable energy, and a global semiconductor equipment provider Prodrive Technologies to call for their investment in Korea for cooperation in the green economy and artificial intelligence, according to the ministry.