"Lithuania and South Korea may seem like very different countries, but we share a strong laser and semiconductor industry. Most Lithuanian laser manufacturers already export their products to South Korea, so we want to ensure the growth of the visible potential and align ourselves with the strongest players in the field by strengthening mutual cooperation between the countries," said Minister of the Economy and Innovation A. Armonaitė.
A. Armonaitė will also meet with Yongho Jang, CEO of SK Siltron, a member of the SK group of companies in South Korea. The company produces next-generation semiconductor panels using world-class technologies.
"SK Hynix specialises in the production of dynamic random access memory chips, which are essential for high-speed data storage and access in computer systems. The company's laboratory is also dedicated to research and development, promoting innovation in memory chip technology and continuously improving chip density, speed and energy efficiency. Last year, the company had a turnover of €31.7 billion and a profit of €4.87 billion.
Lithuania and South Korea have been steadily strengthening economic ties, with the Lithuanian Embassy in South Korea set to open in 2021 and the Lithuanian Commercial Attaché having started work last year. In 2022, the turnover of goods between the two countries reached EUR 211 million. Our exports to Korea amounted to €114 million and imports to €97 million.
