Home Business Lee Jae-yong, White House-US Congress visit ‘semiconductor diplomacy’… Discussion on supply chain solutions – passing investment bills, etc.

Lee Jae-yong, White House-US Congress visit ‘semiconductor diplomacy’… Discussion on supply chain solutions – passing investment bills, etc.

by news dir
White House invites individual representatives of foreign companies
Meetings with key staff are unusual
Lee also met with MS-Amazon executives
Discussion on cooperation in innovative technologies such as Metaverse and AI

Jaeyong Lee met with MS CEO Samsung Electronics Vice Chairman Lee Jae-yong (right), who is on a business trip to the United States, discussed next-generation technology cooperation with Microsoft CEO Satya Nadella at Microsoft’s headquarters in Washington, USA on the 20th (local time). Provided by Samsung Electronics

Samsung Electronics Vice Chairman Lee Jae-yong, who has been visiting the US for a week, visited the White House and the US Capitol to discuss current issues such as local investment and global supply chain issues, and embarked on ‘semiconductor diplomacy’. Samsung Electronics’ new US foundry (semiconductor consignment production) investment plan worth about 20 trillion won is also expected to be announced this week.

According to Samsung Electronics on the 21st, Vice Chairman Lee, who was on a business trip on the 14th, met with political figures in Washington on the 18th and 19th (local time). Earlier, on the 16th and 17th, after meeting with the top management of the bio company Moderna and the world’s No.

On the 18th, he visited the U.S. Congress and met with key lawmakers in charge of the semiconductor investment support bill. Vice-Chairman Lee is known to have requested the parliament’s cooperation on the passage of related bills at this meeting. A US congressional official who participated in the local meeting said, “I know that the (foundry) factory will be compressed and officially announced this week.”

Vice Chairman Lee is reported to have met with senior White House officials on the 19th to discuss solutions to the semiconductor supply chain problem that has emerged as a global issue and incentives for semiconductor companies at the federal level. It is unusual for the White House to personally invite representatives of foreign companies to schedule meetings with key aides. Earlier, the U.S. Department of Commerce requested supply chain data from 79 global companies, including Samsung Electronics, to inspect the global semiconductor supply chain. Samsung did not disclose the names of people it had contact with at the U.S. Congress and the White House. After finishing the schedule for the eastern region, Vice Chairman Lee moved to the west and visited information and communication technology (ICT) companies such as Microsoft (MS) and Amazon in Washington State on the 20th. It is reported that he met Microsoft CEO Satya Nadella to discuss cooperation on emerging next-generation technologies such as semiconductors and mobile as well as virtual reality (VR), augmented reality (AR) and metaverse and expansion of the software ecosystem. We discussed ways to expand cooperation in innovative technologies such as artificial intelligence (AI) and cloud computing with Amazon executives.

According to Samsung Electronics, Vice Chairman Lee’s visit to the US is the first in five years and four months since attending the ‘Sun Valley Conference’, a private gathering of global entrepreneurs in July 2016. An official from the business community said, “In particular, on this business trip, I met not only local business people but also key US political figures, which further enhanced my status as a Samsung president in that I played the role of a civilian diplomat to help resolve global supply chain issues and promote friendship between Korea and the United States.” evaluated.

Vice Chairman Lee is said to be scheduled to return to Korea on the 24th after an additional meeting with local entrepreneurs in the United States.

Reporter Kwak Do-young [email protected]

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