2nd Korea–Netherlands Economic Security Dialogue Held in Seoul (Dec. 9)

Director-General for Bilateral Economic Affairs at the Ministry of Foreign Affaris Kim Sun-young held the 2nd Korea-Netherlands Economic Security Dialogue with Deputy Minister for Foreign Economic Relations at the Dutch Ministry of Foreign Affairs Yvette van Eechoud on the morning of December 9 in Seoul.

This meeting, the second of its kind convened pursuant to the Korea-Netherlands Economic Security Cooperation Memorandum of Understanding (MOU) signed between the two Foreign Ministries in December 2023, was arranged to further strengthen bilateral policy coordination in and joint responses to the increasingly complex global supply chain environment.

During the meeting, the two sides exchanged views on a wide range of issues, including developments in the global economic security environment; their respective countries' economic security policies; cooperation on semiconductors and critical minerals; cooperation on critical and emerging technologies as well as on research; and investment screening and export control systems.

Both sides acknowledged that Korea and the Netherlands, key countries in the global semiconductor supply chain, have been cooperating in the sector at various levels - from policy dialogue to industrial and research cooperation. The two sides agreed to further deepen cooperation on their overseas diplomatic missions' Early Warning System (EWS), which they have been operating jointly.

This dialogue served as an opportunity for both countries not only to reaffirm their close partnership in the semiconductor sector but also to broaden cooperation into areas such as critical minerals, emerging technologies, research, and supply chain risk mitigation. Such cooperation is expected to contribute to expanding cooperation between the two countries' businesses and fostering a more stable economic environment.

The Ministry of Foreign Affairs, in close cooperation with the Netherlands, will continue to seek global supply chain resilience and a stronger economic security.