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Samsung and SK Hynix near major US supply deals during Seoul trip
The agreements are expected to cover long-term memory chip supply, strategic investments, and MoUs, following President Lee Jae Myung's Silicon Valley meetings and months of talks.
Samsung Electronics and SK Hynix are preparing to unveil major supply and partnership agreements with American technology companies during President Lee Jae Myung's Silicon Valley visit, with negotiations that had been under way for months, according to reporting cited by Yahoo Finance.
Chief Presidential Secretary for Policy Kim Yong-beom told reporters the deals would likely include new long-term memory chip supply agreements, strategic investment partnerships, and memorandums of understanding, while the value was not disclosed ahead of company announcements.
Kim said the July 24-25 trip helped catalyze talks between the Korean firms and their U.S. counterparts. Lee’s agenda in San Francisco included separate meetings with leaders from Nvidia, OpenAI, Anthropic, and Broadcom.
The initiative is tied to South Korea’s broader AI and memory buildout plan announced last month, worth at least $880 billion and backed by Samsung, SK Group, and Naver, with Kim saying American technology companies account for 80% to 90% of the orders driving the expansion. The news also comes two weeks after SK Hynix completed a $26.5 billion American depositary receipt offering, described as the largest first-time U.S. share sale by a foreign company.