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| Samsung Electronics Vice Chairman Lee Jae-yong, on his way to Europe, departs from Seoul Gimpo Business Aviation Center (SGBAC), Tuesday. Yonhap |
By Kim Hyun-bin
Samsung Electronics Vice Chairman Lee Jae-yong visited Munich, Germany reportedly to seek cooperation with automakers and semiconductor-related firms. Munich hosts the headquarters of BMW and semiconductor-related firms such as Siemens, according to company officials.
Lee's chartered flight, which arrived in Budapest, Hungary, on June 7, departed for Munich the following day.
"It is true that Vice Chairman Lee went straight to Germany at the time," a Samsung Group official said. "But we have not been informed of his current whereabouts."
After arriving in Hungary, Lee headed to Germany instead of stopping by the local Samsung SDI battery production plant. It is interpreted that this was because it was more important to meet the CEOs of global companies and conduct business-related discussions than to visit the group's local facilities.
Samsung SDI President Choi Yoon-ho also accompanied Vice Chairman Lee on the business trip to Europe. It is known that not only Choi, but also key executives of Samsung SDI, accompanied Lee on the trip.
This visit is Choi's first business trip with Lee since taking the head post at Samsung SDI. The move is interpreted as Lee's decision to strengthen Samsung SDI's battery position in the European market.
Lee is expected to also focus on expanding global supply chains related to semiconductors, batteries and mobile communication equipment, as well as seeking M&A opportunities.
Munich is home to the headquarters of German automakers such as BMW. In the semiconductor field, Siemens, a long-time partner of Samsung Electronics, as well as Infineon, a system semiconductor company for automobiles, which has been mentioned as a potential candidate for an M&A by Samsung, are located in Munich.
Lee is also expected to visit the Netherlands and the U.K. during his trip to Europe. In the Netherlands, he is expected to visit ASML, an extreme ultraviolet (EUV) exposure equipment maker.
EUV equipment is essential for making ultra-fine semiconductor circuits and is a key factor in strengthening the competitiveness of foundries. Lee also requested a supply of EUV equipment while meeting ASML CEO Peter Wennink at its headquarters in October 2020.
In the U.K., attention is focused on whether Samsung's plan for a major M&A will be realized. One of the most often mentioned candidates for an M&A is ARM, a global semiconductor fabless company.
Lee's 12-day business trip is scheduled to run until June 18. This trip is Lee's first visit to Europe since October 2020. It marks his first overseas business trip in six months, following the trip to the Middle East in December of last year.
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