South Korea Dethrones China as ASML's Biggest Customer
Korean memory chip makers drove ASML's Q1 2026 shipments to 45% of net system sales, more than doubling from last quarter.
South Korea just leapfrogged China to become ASML's top market. The Dutch lithography giant reported that Korean shipments hit 45% of net system sales in Q1 2026, totaling €2.84 billion. That's a massive jump from 22% in Q4 2025.
The surge is driven by South Korea's memory chip manufacturers ramping up equipment purchases. Samsung and SK Hynix — the country's semiconductor heavyweights — are clearly betting big on next-gen capacity.
For context, China had been ASML's dominant market for several quarters running, fueled by stockpiling ahead of tightening export controls. South Korea's sudden rise to the top slot signals a shift in where the world's most critical chipmaking tools are actually landing.
ASML's EUV and DUV machines remain the bottleneck for advanced chip production worldwide. Whoever's buying the most machines is setting the pace.