Two of South Korea’s biggest semiconductor manufacturers are preparing to reveal major supply agreements with American technology firms, according to a top adviser to South Korean President Lee Jae Myung.
Kim Yong-beom, who serves as the president’s policy adviser, spoke with reporters Thursday and confirmed that Samsung Electronics and SK Hynix would be unveiling long-term contracts to supply memory chips to global technology partners.
“We expect a lot of very large and meaningful figures to be announced,” Kim told reporters.
He added that the deals would go beyond just business, saying, “It is cementing the technology and economic partnership between South Korea and the United States.”
Kim also indicated that global technology companies plan to announce what he called “strategic investments” in artificial intelligence data centers, though he did not elaborate on the specifics.
The announcements are expected to coincide with President Lee’s scheduled stop in San Francisco on Friday and Saturday, as he travels through the United States en route to South America, where he will participate in summits with regional leaders.
While in San Francisco, Lee is set to sit down with prominent U.S. technology executives, including Nvidia CEO Jensen Huang and OpenAI CEO Sam Altman.
He will also take part in an artificial intelligence summit alongside South Korean business leaders, including Samsung Electronics Chairman Jay Y. Lee, SK Group Chairman Chey Tae-won, and Hyundai Motor Executive Chair Euisun Chung.
