Chip machine maker ASML is considering acquisitions to expand its production capacity. That is what CEO Peter Wennink of the Veldhoven company in South Korea said.

Wennink is in the Asian country to lay the foundation stone of his company’s new Korean headquarters.

ASML announced last year that it wants to almost double its turnover in the coming years and almost triple it in 2030. This growth ensures greater scale, and ASML is prepared to make acquisitions for this. “We will make acquisitions if we feel it is necessary to support our plans.”

Until 2024, ASML will invest 240 billion won in South Korea, equivalent to just under 176 million euros. But that is only the beginning of the investments of the Veldhoven company, says Wennink.

Some of ASML’s largest customers, such as Samsung and SK Hynix, are from South Korea. In addition, the Taiwanese chip manufacturer TSMC is also nearby.