South Korea to get ASML's new hub
The Dutch semiconductor production equipment maker ASML will open a new support hub in South Korea.
The company is said to build a 16,000-square-meter facility in the Seoul (Hwaseong city), investing around EUR 173 million. Operations are expected to begin in the second half of 2024.
By establishing relationships with clients in South Korea and other countries, chip equipment companies like ASML hope to mitigate the effects of U.S. restrictions on semiconductor technology exports to China on its sales.
South Korea is ASML's second biggest market, accounting for more than 30% of sales. Taiwan makes up more than 40%. The new hub is looking to establish more collaborative relationships with clients, such as Samsung and SK Hynix, in one of the company's most important market, Nikkei Asia writes.