Samsung, SK Hynix eye major U.S. deals after $518 billion chip push

Samsung Electronics and SK Hynix are preparing to announce long-term memory supply agreements with major U.S. technology companies during South Korean President Lee Jae-myung's trip to San Francisco, a senior presidential official said. The deals follow South Korea's plan for Samsung and SK Hynix to invest a combined 800 trillion won ($518 billion) in a domestic semiconductor hub, and are expected to include additional investment agreements tied to artificial intelligence data centers. Lee is scheduled to meet with Nvidia CEO Jensen Huang, OpenAI CEO Sam Altman, Anthropic CEO Dario Amodei and Broadcom CEO Hock Tan during the visit.

Samsung Electronics and SK Hynix are preparing to unveil long-term memory supply agreements with major U.S. technology companies during South Korean President Lee Jae-myung’s trip to San Francisco, a senior presidential official said. South Korean news site Segye Ilbo reported that Kim Yong-beom, Lee’s chief policy secretary, told foreign media on July 23 that the expected announcements would involve substantial commercial commitments, though he did not disclose the buyers, contract values or supply volumes. The planned deals are set to form part of a broader package of technology cooperation between South Korea and the United States, with additional investment agreements tied to artificial intelligence data centers also expected during the visit. Kim described the prospective partnerships between U.S. technology groups and South Korea’s two dominant memory-chip producers as an important step in strengthening economic and technology ties between the countries. Nvidia, OpenAI and Anthropic executives join Lee’s agenda Lee departed for San Francisco on July 24 and is scheduled to hold talks with senior executives from several major technology companies, including Nvidia CEO Jensen Huang, OpenAI CEO Sam Altman, Anthropic CEO Dario Amodei and Broadcom CEO Hock Tan. Lee is also due to attend the San Francisco AI Summit, where he plans to set out South Korea’s ambitions in the global AI economy through a San Francisco AI Declaration. According to Kim, the president will present South Korea as a dependable supplier of the semiconductors needed to support the rapid expansion of artificial intelligence. Seoul also wants the country to serve as a testing ground and stable customer market for new AI services. Kim points to demand, not politics, behind investment plans Kim said the semiconductor plans were driven by commercial demand rather than fresh pressure from President Donald Trump or the U.S. Commerce Department, with American customers expected to account for 80% to 90% of the relevant orders. Kim said South Korea would keep the projects aligned with its emissions targets while investing in research, infrastructure, energy storage and low-carbon power technologies. Samsung and SK Hynix add U.S. deals to Seoul’s expansion plan The expected U.S. agreements would follow a sweeping domestic semiconductor plan unveiled by South Korea in late June, when Seoul placed chips, physical AI and data centers https://thecoinheadlines.com/tech-and-ai/samsung-sk-hynix-commit-518-billion-to-south-koreas-ai-chip-drive/article-23975/ at the center of its “Three Mega Projects” growth strategy. Under the plan, Samsung and SK Hynix are expected to invest a combined 800 trillion won $518 billion in the proposed hub, which would include four new memory-chip manufacturing facilities. Samsung Group separately outlined 2,655 trillion won $1.72 trillion in broader domestic investment, while SK Hynix set out a 1,100 trillion won $712 billion semiconductor expansion plan spanning Yongin, Cheongju and the southwest. Taken together, the late-June factory plan and the expected U.S. contracts suggest Seoul is seeking long-term customers for a historic expansion in domestic memory production, potentially reducing investment risk for Samsung and SK Hynix while tightening South Korea’s role in the American AI supply chain.