South Korea and the Netherlands will expand technology cooperation in semiconductors and quantum fields. The Ministry of Trade, Industry and Energy said on Tuesday it held the fourth South Korea-Netherlands Joint Committee on Innovation with the Dutch Ministry of Economic Affairs in The Hague. At the meeting, the two countries signed a letter of intent to strengthen cooperation in semiconductors and quantum fields and agreed to respond jointly to global competition in technological hegemony.

Choi Yeon-woo, director-general for industrial technology convergence policy at the ministry, and Tjerk Opmeer, director for corporate innovation at the Dutch Ministry of Economic Affairs, attended as the chief representatives. The two sides shared an understanding of the two countries' strong technological competitiveness and the policy importance of semiconductors and quantum fields. They agreed to expand international cooperation into advanced strategic technology areas, it said.

The two countries have carried out technology cooperation through the Eureka network since 2016. The Eureka network is a joint technology development platform involving 48 countries worldwide. Korea Institute for Advancement of Technology (KIAT) and the Netherlands Enterprise Agency (RVO) led the cooperation. Since 2019, the director-general-level Joint Committee on Innovation has been held every two years.

So far, a total of 41 international joint R&D projects among industry, academia and research institutions from the two countries have been under way. Total support amounts to 44.2 billion won. The projects have produced results such as the development of globally monopolistic products by South Korean companies, including next-generation intelligent transceivers.

Choi said, "South Korea and the Netherlands have continuously expanded industrial technology cooperation over about 10 years, and I hope this joint committee becomes a starting point for designing the next 10 years together based on the cooperation results so far."

He added, "To respond jointly to the intensifying global technology competition environment, we plan to provide active support so that international cooperation in industrial technology can become an opportunity for new growth and a leap forward for companies and research institutions in both countries."