Samsung Electronics Chairman Lee Jae-yong met with a group of visiting U.S. senators Wednesday to discuss ways to enhance cooperation between South Korean and U.S. businesses, industry sources said.
The U.S. delegation was made up of Sens. Bill Hagerty, John Thune, Dan Sullivan, Katie Britt, Eric Schmitt, Chris Coons and Gary Peters.
Samsung Electronics Co. Chairman Lee Jae-yong (C) returns home through Seoul Gimpo Business Aviation Center (SGBAC) in western Seoul in this file photo taken May 3, 2024, wrapping up a 10-day business trip to Germany, France and Italy. (Yonhap)
The venue of their meeting, a house belonging to the Lee family that was later remodeled into an office and guest house, was previously visited by Saudi Crown Prince Mohammed bin Salman and Meta Platforms CEO Mark Zuckerberg.
“‘Big deal’ decisions for large-scale projects have been made at Seungjiwon in the past, so there are expectations that Chairman Lee’s expansion of ‘Seungjiwon management’ will lead to business achievements for S
amsung like finding future new projects and strengthening partnerships with global businesses,” an industry source said, referring to the guest house.
SK Group Chairman Chey Tae-won also met with the delegation the previous day, according to the company.
During the meeting at SK Group’s headquarters Tuesday, Chey expressed his gratitude to the seven visiting senators for their efforts in expanding Korea-U.S. ties, according to SK Group.
The discussions focused on key areas of collaboration, particularly in technology and business.
This meeting follows a similar engagement last year, when Chey met with U.S. Senate representatives led by Chuck Schumer during their visit to Seoul.
SK Group Chairman Chey Tae-won (C) and a delegation of U.S. senators pose for a photo in Seoul on Sept. 3, 2024, in this photo provided by SK Group. (PHOTO NOT FOR SALE) (Yonhap)
Chey highlighted SK Group’s major business initiatives, emphasizing the company’s contributions to both South Korea and the U.S.
“SK Group is building
semiconductor ecosystems in both Korea and the U.S.,” Chey said, “which will help enhance AI leadership in both countries.”
Recently, SK hynix Inc., the world’s second-largest memory chipmaker, received up to US$450 million in grants from the U.S. government for its investment to build a production base for advanced semiconductor packaging in Indiana.
SK Group’s electric vehicle battery unit SK On Co. has several joint ventures in the U.S.
The U.S. senators expressed optimism for continued bilateral cooperation, noting the increasingly vital role of Korean companies in advancing the economies of both nations, according to SK Group.
Source: Yonhap News Agency