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South Korea chipmakers to supply US firms in $950 billion deals
🇮🇳 India /Economy & Trade

South Korea chipmakers to supply US firms in $950 billion deals

From Times of India · () English

Summarized and contextualized by DistantNews.

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News From a news agency New plan
  • South Korean chipmakers Samsung Electronics and SK hynix will supply US tech firms, including Nvidia, in deals worth $950 billion.
  • The agreements were made during President Lee Jae Myung's visit to San Francisco for talks with leaders of major US technology companies.
  • The cooperation is seen as crucial for the AI industry, where South Korea's advanced memory chips are essential.

South Korean memory chip giants Samsung Electronics and SK hynix are set to supply US tech companies, including Nvidia, in agreements valued at $950 billion. The landmark deals were announced Saturday by a presidential adviser following President Lee Jae Myung's visit to San Francisco. During his trip, Lee met with the heads of major US technology firms such as OpenAI, Nvidia, Anthropic, and Broadcom.

Presidential chief of staff for policy Kim Yong-beom stated that the Korean chipmakers and US tech firms agreed to "pursue cooperation" in the sector. South Korea is a global leader in memory chip manufacturing, with Samsung Electronics and SK hynix producing advanced chips vital for the rapidly developing artificial intelligence industry. These agreements are expected to fuel optimism about the country's economic future.

pursue cooperation

— Kim Yong-beomPresidential chief of staff for policy Kim Yong-beom stated that the Korean chipmakers and US tech firms agreed to 'pursue cooperation' in the sector.
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Originally published by Times of India. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.

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