The big picture: South Korean tech giants like Samsung and SK Hynix have dominated memory manufacturing for decades. However, the country's president thinks the competition in the processor market, where Taiwan's TSMC looms large, has recently become significantly more critical. A new support package aims to increase Korea's competitiveness across the chip industry.
Why it matters: ASML is the largest manufacturer of photolithography machines, designed for etching intricate circuits onto silicon wafers to create advanced computer chips. It stands as the most highly valued European tech company, boasting a market capitalization of nearly $400 billion. Additionally, ASML represents one of the major business ventures in the Netherlands' economy.