PM meets Samsung's Jae-yong, inspects 5G factory

Prime Minister Lee Nak-yon, left, speaks with Samsung Electronics Vice Chairman Lee Jae-yong during a visit Thursday to the firm's Suwon factory that produces fifth-generation (5G) network-related products. / Yonhap

By Park Ji-won

Prime Minister Lee Nak-yon met Samsung Electronics Vice Chairman Lee Jae-yong, Thursday, on a visit to the firm's factory in Suwon, in an apparent move to expand communication with the business community.

The prime minister inspected the facilities with government officials including Science and ICT Minister You Young-min.

Samsung makes fifth-generation (5G) network-related products at the factory, one of its future growth engines.

It has been speculated that the prime minister will have a closed meeting with Lee to discuss the company's economic plans while asking for his cooperation in job creation. If it materializes, it will be the first time the prime minister has had a one-on-one meeting with the head of one of the country's conglomerates since his inauguration.

The visit was likely aimed at urging the company to boost investment and job creation. During a meeting with newly appointed key aides, Tuesday, President Moon Jae-in stressed the need to meet people from the business circle to encourage industry in the face of criticism of his poor performance on the economy.

Samsung, meanwhile, has been pushing 5G network technology as one of its four growth engines, pledging to invest 1.5 trillion won ($1.3 billion) through 2022 to finance studies of future technologies such as artificial intelligence (AI) and the internet of things (IoT).

The company began producing 5G network equipment at the Suwon factory last week. In March, the firm will officially commercialize the technology.