Samsung, SK chiefs continue overseas trips after Yoon's return
Samsung Electronics Executive Chairman Lee Jae-yong, center, talks with President Yoon Suk Yeol and Moderna co-founder Noubar Afeyan, during the Korea-U.S. Business Roundtable at the U.S. Chamber of Commerce in Washington, D.C., Tuesday (local time). Yonhap
By Park Jae-hyuk
President Yoon Suk Yeol wrapped up his six-day state visit to the U.S. with Korean business leaders, but the heads of Korea's two largest conglomerates have yet to finish their overseas trips, according to industry officials, Sunday.
Instead of returning to Seoul with the president, Samsung Electronics Executive Chairman Lee Jae-yong is said to be staying in the U.S. for two more weeks, to strengthen his ties with the CEOs of global enterprises.
This is Lee's first trip to the U.S. since his appointment as full chairman last October. Given that he does not need to come to Korea until his next court hearing slated for May 26 for a trial on charges of fraud in a merger of two Samsung affiliates, he is expected to have meetings with U.S. business leaders all across the country.
During the first week of May, he is likely to meet with top executives of Verizon in New Jersey, as Samsung signed a contract with the U.S. telecom firm in 2020 to supply $6.6 billion worth of network equipment. He is also expected to visit Moderna's headquarters in Boston, considering that Samsung Biologics manufactured the U.S. drugmaker's COVID-19 vaccine.
After visiting the eastern side of the country, it is widely expected for the Samsung chairman to stop by Silicon Valley in the west to meet with Google CEO Sundar Pichai and Apple CEO Tim Cook.
Although the two U.S. tech giants compete with the Korean firm in the smartphone market, Samsung uses Google's Android operating system for its Galaxy smartphones, while Google uses semiconductors made by Samsung. In addition, Samsung Display supplies OLEDs for Apple's iPhone.
Industry officials are paying keen attention on whether Lee will also visit Microsoft and Amazon.
Considering the political tension between the U.S. and China over supremacy in the chip industry, the Samsung chairman is unlikely to visit the construction site for the company's new foundry factory in Taylor, Texas. When Lee visited China in March, he did not visit Samsung's semiconductor factory in Xi'an.
“The chairman is expected to focus more on strengthening his personal networks with U.S. businesspeople,” an industry official said on condition of anonymity.
SK Group and Korea Chamber of Commerce and Industry Chairman Chey Tae-won, left, talks with TerraPower CEO Chris Levesque during the Korea-U.S. Business Roundtable at the U.S. Chamber of Commerce in Washington, D.C., Tuesday (local time). Yonhap
Meanwhile, SK Group and Korea Chamber of Commerce and Industry Chairman Chey Tae-won flew to Latin America last Friday to promote Busan's bid to host the World Expo 2030.
According to the Ministry of Foreign Affairs, he will travel the region for about a week as a special presidential envoy.
Chey, who is a co-chair of the committee to support Busan's Expo campaign, also visited Spain, Denmark and Portugal in March. He asked the three European countries to support Korea's second-largest city in a vote by members of the Bureau International des Expositions (BIE) in November to select the host city.