South Korea secures $950 billion in AI partnerships at San Francisco summit with tech giants
10 Sources
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South Korea President Lee looking to open new era of AI in with global tech companies
SAN FRANCISCO, July 24 (Reuters) - South Korean President Lee Jae Myung hosted an AI summit in San Francisco on Friday, bringing together the heads of Nvidia, OpenAI, Anthropic and Broadcom with top South Korean business figures to accelerate efforts by Seoul to make the country a global AI
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South Korea's Lee to visit South America and Germany, attend AI summit in US
SEOUL, July 22 (Reuters) - South Korean President Lee Jae Myung will visit San Francisco, Brazil, Chile, Argentina and Germany from July 24 to August 3, the presidential office said on Wednesday. Lee will hold separate summits with the leaders of Brazil, Chile and Argentina and attend an AI summit
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Samsung Electronics, SK Hynix unveil $950B in chip partnerships with US tech giants
Samsung Electronics and SK Group on Friday announced plans for a combined US$950 billion in semiconductor cooperation with major US tech companies like Nvidia and Broadcom, taking advantage of President Lee Jae Myung's visit to San Francisco. Lee that day introduced the San Francisco AI
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Samsung, SK, Hyundai expand AI partnerships with Big Tech firms to $950 bil. - The Korea Times
President Lee Jae Myung raises a beer during a dinner with global artificial intelligence industry leaders in San Francisco, Friday (local time). From left are SK Group Chairman Chey Tae-won, presidential chief of staff for policy Kim Yong-beom, Microsoft Azure Hardware System President Rani
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S. Korean, global tech firms agree on $950 bil. cooperation projects: official - The Korea Times
President Lee Jae Myung raises a toast with attendees during a dinner with global AI leaders at a restaurant in San Francisco, July 24. Yonhap SAN FRANCISCO -- Korean conglomerates and global tech giants, including Nvidia Corp., agreed Friday to pursue a series of cooperation projects that
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Top S. Korean biz chiefs meet with Nvidia, global tech leaders - The Korea Times
President Lee Jae Myung raises a toast with attendees during a dinner with global AI leaders at a restaurant in San Francisco, July 24. From left are Rani Borkar, President for Azure Hardware Systems at Microsoft; Jensen Huang, CEO of Nvidia; Lee; Hock Tan, CEO of Broadcom; Samsung Electronics
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Lee meets OpenAI, Nvidia CEOs, calls for greater roles in S. Korea's AI investment projects - The Korea Times
President Lee Jae Myung raises a toast with Nvidia CEO and other attendees during a dinner with global AI leaders at a restaurant in San Francisco, July 24. Yonhap SAN FRANCISCO -- South Korean President Lee Jae Myung met with the heads of four global tech giants, including Nvidia Chief Executive
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Nvidia chief says will announce $500 bil. partnership with SK Group in meeting with Lee - The Korea Times
President Lee Jae Myung, right, holds a meeting with Nvidia Chief Executive Officer (CEO) Jensen Huang, in San Francisco, July 24. Yonhap SAN FRANCISCO -- President Lee Jae Myung held a meeting with Nvidia Chief Executive Officer (CEO) Jensen Huang on Friday, during which the tech executive said
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Lee meets Anthropic CEO Amodei, seeks support for Korea's AI sector - The Korea Times
President Lee Jae Myung, right, holds a meeting with Dario Amodei, chief executive officer of U.S. artificial intelligence (AI) company Anthropic PBC, in San Francisco, July 24. Yonhap SAN FRANCISCO -- South Korean President Lee Jae Myung met with Dario Amodei, chief executive officer of U.S.
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President Lee, biz leaders to meet Nvidia, OpenAI chiefs in San Francisco - The Korea Times
President Lee Jae Myung, right, listens to a participant's remark during a discussion meeting on regional, essential and public healthcare at Cheong Wa Dae in Seoul, Wednesday. Yonhap President Lee Jae Myung and Korean business leaders will meet with executives of Big Tech firms during his visit
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President Lee Jae Myung hosted an AI summit in San Francisco, bringing together leaders from Nvidia, OpenAI, Anthropic, and Broadcom with South Korean conglomerates. The event resulted in $950 billion worth of semiconductor and AI partnerships, including major deals by Samsung Electronics and SK Group. Lee unveiled the San Francisco AI Declaration, positioning South Korea as a critical player in the global AI supply chain.
South Korea Positions Itself as AI Supply Chain Powerhouse
President Lee Jae Myung convened an AI summit in San Francisco on Friday, orchestrating a landmark gathering that brought together the CEOs of Nvidia, OpenAI, Anthropic, and Broadcom alongside South Korea's most influential business leaders
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. The event, attended by approximately 150 executives, investors, researchers, and startup founders, marked a decisive moment in South Korea's ambition to establish itself as a global AI powerhouse1
. Samsung Electronics Executive Chairman Jay Y. Lee, SK Group Chairman Chey Tae-won, Hyundai Motor Group Executive Chair Euisun Chung, and Naver founder Lee Hae-jin participated in the summit, underscoring the strategic importance of AI partnerships for South Korea's economic future1
.San Francisco AI Declaration Unveils National Vision
During his keynote address, President Lee Jae Myung introduced the San Francisco AI Declaration, outlining South Korea's vision for technological cooperation with the United States and its role in the AI supply chain
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. "South Korea will make the leap as a key nation in the global AI supply chain," Lee declared, emphasizing the country's world-class competitiveness in memory semiconductors3
. The declaration positions South Korea as a trustworthy production base and supply chain partner for AI semiconductors, leveraging its existing dominance in the semiconductor industry5
. Lee also pledged that South Korea would become a test bed for AI adoption across manufacturing and logistics sectors, creating new markets for real-world AI applications5
.$950 Billion in Semiconductor Partnerships Announced
The AI summit generated $950 billion worth of semiconductor and AI cooperation agreements between South Korean conglomerates and global tech companies
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. Samsung Electronics signed a memorandum of understanding worth up to $200 billion with Broadcom for advanced memory chips and foundry services for AI chip production over the next five years3
. The agreement covers HBM chips and logic semiconductor manufacturing services, with Samsung leveraging its HBM4 technology featuring a 4-nanometer base die4
. Samsung foundry will apply advanced sub-2-nanometer process technology to Broadcom's networking semiconductor solutions and AI accelerators4
.SK Group Secures Massive AI Infrastructure Deals
SK Group concluded deals worth a combined $750 billion on long-term supply partnerships for semiconductors with Nvidia and other global tech companies over five years
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. The partnership with Nvidia includes a letter of intent for comprehensive AI infrastructure cooperation spanning from AI data center development to AI memory supplies4
. SK Telecom plans to build a 2-gigawatt AI data center powered by Nvidia's Vera Rubin chips and SK Hynix HBM4 high-bandwidth memory chips, scheduled to come online in 20271
. SK Hynix expanded its long-term AI memory partnership with Nvidia to jointly develop and optimize next-generation AI memory including HBM chips4
. SK Telecom also signed an MOU with Anthropic to build gigawatt-scale AI data centers in South Korea4
.Related Stories
Strategic Collaborations Extend Beyond Semiconductors
Samsung SDS inked a strategic partnership with Anthropic to deploy Claude AI across domestic businesses and jointly expand enterprise AI services in South Korea
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. The collaboration includes joint marketing, proof-of-concept projects, and an Applied AI Engineers training program to support Claude AI model deployment for enterprise customers4
. Naver will build AI factories worth $10 billion through investments from Nvidia and global asset manager Brookfield3
. Hyundai Motor Group and Nvidia agreed to jointly establish a "robot reference platform" to develop and test AI robots3
. These partnerships collectively aim to establish joint investment in large-scale AI data centers with a combined capacity of 5 gigawatts and 2 million graphics processing units5
.Implications for Global AI Competition
Kim Hyeong-joon, head of the Korea-based Next-Generation Intelligent Semiconductor Foundation, emphasized that "through long-term contracts with US Big Tech firms, our companies can keep expanding their semiconductor plants and raise the potential for the semiconductor industry's sustainable growth"
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. Presidential chief of staff for policy Kim Yong-beom noted that advance memory orders and long-term contracts will "help ensure stable chip production at our companies"3
. The agreements position South Korea to capitalize on growing global demand for semiconductors amid the AI boom, building on the country's June announcement of three megaprojects totaling over 4,000 trillion won ($2.73 trillion) in semiconductor production, physical AI, and AI data centers5
. President Lee also met with executives from six top venture capital firms including Andreessen Horowitz, General Catalyst, and Sequoia Capital, attending an MOU ceremony between South Korea's National Pension Service and these firms for long-term partnership2
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