A two-week long business trip to the US by Samsung Electronics executive chairman, Lee Jae-yong, recently concluded with high-profile meetings with the heads of Meta, Amazon and Qualcomm.
As The Korea Times reported the main purpose of these discussions was to expand tech partnerships between the world’s leading research institutions and explore how they build future-oriented business models, especially in the area of AI.
While in Palo Alto, California, Lee visited Mark Zuckerberg, founder and CEO of Meta, at his home. The bilateral session between the two focused specifically on AI, virtual and augmented reality, and ways to enhance technological partnerships in AI, future ICT, and software industries. This visit came four months after Zuckerberg’s last trip to Seoul, which corroborated the growing partnership between the two technology titans.
The following day, Lee held discussions with Amazon CEO Andy Jassy, focusing on strengthening partnerships in generative AI and cloud computing. Amazon, a key chip partner for Samsung, has recently made significant investments in the generative AI sector, concentrating on developing cloud-based AI services. Samsung noted that their collaboration with Amazon extends beyond semiconductors to include TVs, mobile devices, and content, indicating a broadening scope of their partnership.
Lee also met with the head of U.S. chipmaker Qualcomm to negotiate a partnership aimed at jointly developing next-generation chips for artificial intelligence and telecommunications. More specifically, Samsung uses Qualcomm to supply the mobile application processor for its Galaxy lineup; Qualcomm is renowned for its low-power-consumption chipsets, such as the Snapdragon. The agreement expanded the two companies’ alliance by extending it to include AI PCs and other mobile platforms.
While on his journey, Lee also met with top brass from global fabless and system-on-chip companies and shared his thoughts on the future of semiconductors. This has major implications not only for Samsung but also for South Korea’s tech industry and economy as a whole.
Given that South Korea is a tech superpower, partially thanks to this industry’s participation, Samsung’s global partnerships could help further secure their position as a key player in technology. The Korean government aims to nurture innovation capabilities and strengthen linguistically-specialised neural network-based AI and advanced technology industries, which are also in line with this policy.
Just after completing a business trip, Lee wrote that the best way forward is to leverage the firm’s strengths.
Top-ranking officials and heads of overseas offices of Samsung Electronics will hold a global strategy meeting later this month. The insights from Lee’s U.S. trip are expected to be instrumental in building the company’s roadmap. Samsung’s top management will seek to overcome such burdens and challenges as they work to convey their vision at the final meeting, deciding on specific business strategies to maintain corporate well-being amid political and economic uncertainties.
The outcomes of Lee’s recent US meetings are anticipated to play a crucial role in formulating Samsung Electronics’ strategic direction. This proactive approach demonstrates the company’s commitment to maintaining its competitive edge in the rapidly evolving tech industry, both domestically and internationally.
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