Lee Jae-yong Returns from US Trip: "Seeing the Harsh Market Reality Firsthand Weighs Heavily on My Mind"

Samsung Electronics Vice Chairman Lee Jae-yong is returning to Korea on the 24th through the Seoul Gimpo Business Aviation Center in Gangseo-gu, Seoul. Vice Chairman Lee, who departed on the 14th, reportedly held various discussions with key executives of major local companies during his visit to the United States, his first in five years. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Kim Heung-soon] Samsung Electronics Vice Chairman Lee Jae-yong returned to Korea on the 24th after a ten-day business trip to the United States. He finalized the site for a new $17 billion (approximately 20 trillion KRW) U.S. foundry (semiconductor contract manufacturing) plant in Taylor, Texas, and met with partners in future key businesses such as bio, telecommunications, artificial intelligence (AI), and software, formalizing his vision for the 'New Samsung.' However, he also acknowledged the challenging realities Samsung must overcome, expressing a sense of crisis by saying, "My heart is heavy."

Upon returning through the Business Aviation Center at Gimpo Airport in Gangseo-gu, Seoul, around 4 p.m., Vice Chairman Lee was asked about his reflections on the major investment decision and future outlook. He responded, "Investment is important, but hearing the desperate voices on the ground and witnessing the harsh realities of the market firsthand made my heart heavy."

However, he expressed satisfaction with strengthening his global network by meeting top executives of partner companies related to business during his first visit to the U.S. in five years since 2016. Vice Chairman Lee emphasized, "I was able to reconnect with business partners I hadn't seen for a long time and share stories. It was a very good trip because I could also talk about the future."

Starting from the 14th, Lee embarked on a 'broad and intensive' journey across the U.S. East and West Coasts, focusing not only on semiconductors, Samsung's core business, but also on future growth sectors such as bio, 5G, and AI. Notably, he visited Microsoft (MS) and Amazon consecutively to share strategies and discuss cooperation plans related to AI, cloud computing, and the mobile revolution?key areas of the Fourth Industrial Revolution.

On the 16th and 17th, he held consecutive business meetings with Noubar Afeyan, co-founder and chairman of Moderna's board, and Hans Vestberg, CEO of Verizon, discussing cooperation plans in bio and next-generation telecommunications fields, respectively. He also visited Google's headquarters to meet with CEO Sundar Pichai and other executives, reportedly discussing collaboration strategies in next-generation ICT and software (SW) innovation areas such as system semiconductors, virtual reality (VR), augmented reality (AR), autonomous driving, and platform revolutions.

In Silicon Valley, California, he visited the DS America headquarters (DSA), a semiconductor and set research institute, and Samsung Research America (SRA) to review the development status of next-generation core technologies like AI and 6G and to encourage researchers. At this occasion, he stated, "We cannot overcome this massive transition period by merely 'widening the gap' with chasing or following companies," and urged, "Let's pioneer an uncharted future and create a new Samsung," reaffirming his commitment to the New Samsung.

To decide on the site for the new U.S. foundry plant, considered the biggest current issue, he held consecutive meetings on the 18th and 19th in Washington D.C. with key White House aides such as Jake Sullivan, U.S. National Security Advisor, and Brian Deese, Chair of the National Economic Council, as well as federal lawmakers. They exchanged views on Samsung's role in resolving global semiconductor supply chain issues. It is reported that he requested active support for the semiconductor industry from both the executive and legislative branches.

In the business community, Vice Chairman Lee's U.S. visit is seen as a moment of recognizing the harsh realities Samsung and South Korea face amid global supply chain hegemony competition and the leadership battle over advanced industries. His reflections and resolve not to become complacent are interpreted as a commitment to confront these challenges head-on.

This content was produced with the assistance of AI translation services.