Chip agreements with US IT firms will be announced by Samsung and SK Hynix

South Korean chipmakers Samsung Electronics and SK Hynix will announce major supply agreements with U.S. technology companies during President Lee Jae-myung’s visit to San Francisco, a senior presidential official said.

Kim Yong-beom, a political advisor to the president, told reporters on Thursday that the companies would unveil long-term supply contracts for memory chips with international technology partners.

«We expect very large and significant figures to be announced,» Kim said. «This further strengthens technological and economic cooperation between South Korea and the United States,» he added.

Kim did not provide specifics, but he mentioned that multinational tech firms will also declare «strategic investments» in AI data centers.

His remarks were made prior to Lee’s Friday and Saturday travel to San Francisco on his way to South America, where he would attend meetings with regional leaders.

Lee will meet with CEOs from the U.S. technology industry in San Francisco, including Sam Altman, CEO of OpenAI, and Jensen Huang, CEO of Nvidia.

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