The Portuguese government wants to step up investment and economic cooperation with South Korea in semiconductors, from research to assembly, and renewable energy, two fast-growing sectors in the Asian country.
These will be the two main targets of the Portuguese government delegation led by Prime Minister António Costa, who will arrive in Seoul at mid-morning on Tuesday for a two-day visit to South Korea, a country that is the tenth largest economy in the world and fourth in Asia after China. Japan and India.
Regarding the semiconductor market, during his presence in Seoul, Antonio Costa will visit Hynix and also hold a meeting with Samsung Electronics officials. These two companies control 70% of the supply of memory chips, ranking second and third in the ranking of the largest manufacturers in the world.
A source for the Portuguese executive told the Lusa news agency that South Korea is banking on becoming a world power in memory chips and other microcircuits through a policy of tax breaks and government subsidies for microchip makers.
“Samsung Electronics, for example, has already announced that it will invest a total of US$151 billion by 2030 in the logic chip manufacturing and foundry sectors. assembly and testing of semiconductors in Europe. An exchange of researchers and engineers is also being considered,” the same source said.
In terms of renewable energy, the national side notes that South Korea announced a 54 billion euro investment package in green technologies and clean energy in 2020, and set targets for producing 30 to 35% of electricity from renewable energy sources. by 2040 and phasing out nuclear power.
In terms of investment by South Korean companies in Portugal, still in the field of renewable energy, CS Wind stands out, which is the world’s largest manufacturer of wind towers and now owns 100% of ASM Industries, the national benchmark in the production of wind towers and offshore foundations.
Hanwha Q Cells, which the Prime Minister will visit on Tuesday afternoon, was one of the winners of the second solar auction in Portugal, winning six out of twelve lots for the development of photovoltaic projects in Alentejo and the Algarve. .
The Portuguese government also emphasizes the importance of other South Korean investments in Portugal, such as NPS (National Pension Service of the Republic of Korea), which is part of a consortium that acquired an 81% stake in Brisa; and Hanon Systems, with a presence in Palmel and announcing a €48.3 million investment in AC compressors for electric vehicles;
Other investments that are considered appropriate include those of Borgstena, which owns a manufacturing plant in Nelas, Viseu district, which produces textiles for the automotive sector; and YUDO, which operates in the molds and plastics sector and has a manufacturing unit in Marinha Grande.
Author: Portuguese
Source: CM Jornal
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