Seoul: Republic of Korea and the Netherlands have agreed to boost supply chain cooperation in semiconductors and critical minerals, as announced by Seoul’s foreign ministry. This collaboration includes the establishment of an information-sharing system between their overseas missions.

According to Lao News Agency, the agreement was reached during a bilateral economic dialogue held in The Hague. The meeting was led by Kim Hee-sang, the Republic of Korea’s deputy foreign minister for economic affairs, and Michiel Sweers, a Dutch vice minister.

The two countries have committed to launching an “early warning system” for semiconductor supply chains. This system will facilitate regular exchanges of information about the supply chain status of chips, critical minerals, and other essential materials.

Furthermore, the Republic of Korea and the Netherlands have pledged to work together to identify potential risks within the semiconductor industry. Their efforts aim to ensure a stable and reliable supply chain for semiconductors.

During his visit, Kim Hee-sang also signed a memorandum of understanding with the Hague Centre for Strategic Studies. This agreement focuses on joint research in advanced technologies and further cooperation between the two nations.