> The value is not in the literal buildings, the value is in the people

The people are physically in Europe, too. (Adding limits on remote management for national-security reasons might make sense.)

If Korea and Europe get in a war, or, more likely, China pressures them to straight up ditch that capital investment, that lets the EU hold those folks until knowledge transfer can be conducted. Again, this is a strategically different place of leverage from those assets being overseas.