Samsung Electronics Vice President Lee Jae-yong, on his way to Europe, leaves the Seoul Gimpo Business Aviation Center (SGBAC) on Tuesday. Yonhap

By Kim Hyun-bin

Samsung Electronics Vice President Lee Jae-yong traveled to Munich, Germany to seek cooperation with automakers and semiconductor-related companies. Munich is home to the headquarters of BMW and semiconductor-related companies such as Siemens, according to company officials.

Lee’s charter flight, which arrived in Budapest, Hungary, on June 7, departed for Munich the following day.

“It is true that Vice President Lee went directly to Germany at the time,” said a Samsung Group official. “But we have not been informed of his current whereabouts.”

After arriving in Hungary, Lee traveled to Germany instead of stopping at 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 President Lee on the business trip to Europe. It is known that not only Choi, but also top executives of Samsung SDI, accompanied Lee on the trip.

The visit is Choi’s first business trip with Lee since he took over as head of Samsung SDI. This decision is interpreted as Lee’s decision to strengthen the position of Samsung SDI batteries in the European market.

Lee is also expected to focus on expanding global supply chains related to semiconductors, batteries and mobile communications equipment, as well as pursuing merger and acquisition opportunities.

Munich is home to the headquarters of German automobile manufacturers such as BMW. In semiconductors, Siemens, a longtime partner of Samsung Electronics, as well as Infineon, an automotive system semiconductor company, which has been mentioned as a potential candidate for a merger and acquisition by Samsung, are located in Munich.

Lee is also expected to visit the Netherlands and the UK during his trip to Europe. In the Netherlands, he is expected to visit ASML, a manufacturer of extreme ultraviolet (EUV) exposure equipment.

EUV equipment is essential for the production of ultra-thin semiconductor circuits and is a key factor in strengthening the competitiveness of foundries. Lee also requested a supply of EUV equipment when he met ASML CEO Peter Wennink at his headquarters in October 2020.

In the UK, attention is focused on carrying out Samsung’s plan for a major merger and acquisition. One of the most frequently mentioned candidates for an M&A is ARM, a global fabless semiconductor company.

Lee’s 12-day business trip is scheduled until June 18. The trip is Lee’s first visit to Europe since October 2020. It is his first overseas business trip in six months, following the trip to the Middle East in December last year.