Samsung, SK Hynix to announce major chip deals with US tech companies, Seoul says

South Korean chipmakers Samsung Electronics and SK Hynix will announce large supply deals with U.S. technology companies during President Lee Jae Myung's visit to San Francisco, a senior presidential official said.

Kim Yong-beom, ‌the ⁠president's policy ⁠adviser, told reporters on Thursday that the companies ​would unveil long-term memory chip supply contracts with global ​technology partners.

"We expect a lot of very large and meaningful figures to be announced," ​Kim said.


"It is cementing ⁠the technology ‌and economic partnership between South Korea ​and ​the United States," he said.

Kim ⁠said global technology companies would also announce "strategic investments" in artificial intelligence data centres, but did not provide details.

His comments came ahead of Lee's visit to San Francisco on Friday and Saturday en route to South America, where he ‌will attend summits with regional leaders.

In San Francisco, Lee is scheduled to meet U.S. technology executives, including ⁠Nvidia CEO Jensen Huang and OpenAI CEO Sam Altman.

He will also attend an AI summit with South Korean business leaders, including Samsung Electronics Chairman Jay Y. Lee, SK Group Chairman Chey Tae-won and Hyundai Motor Executive Chair Euisun Chung.