"Heavy Heart"... Lee Jae-yong Emphasizes Sense of Crisis Over Achievements in US Business Trip (Comprehensive)

Samsung Electronics Vice Chairman Lee Jae-yong is returning to Korea on the 24th after a ten-day business trip to the United States, arriving through the Seoul Gimpo Business Aviation Center. On the same day, Samsung Electronics made the final announcement to establish a foundry (system semiconductor contract manufacturing) plant worth 20 trillion won in Taylor, Texas. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporters Kim Heung-soon and Jung Hyun-jin] 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 harsh 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., Lee shared his reflections and future outlook when asked about the major investment decision. He said, "Investment is important, but seeing the desperate voices on the ground and 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 business partners related to his operations during his first visit to the U.S. in five years since 2016. 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 we could also talk about the future."

Starting from the 14th, Lee embarked on a broad journey across the U.S. East and West Coasts, focusing not only on semiconductors but also on Samsung's 'future growth businesses' such as bio, 5G, and AI. Notably, he visited Microsoft (MS) and Amazon consecutively to share strategies and discuss cooperation plans related to core areas of the Fourth Industrial Revolution, including AI, cloud computing, and the mobile 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, meeting with CEO Sundar Pichai and other executives to discuss collaboration in next-generation ICT and software (SW) innovation areas such as system semiconductors, virtual reality (VR), augmented reality (AR), autonomous driving, and platform revolutions.

Lee also visited DS America (DSA), Samsung’s semiconductor and set research center in Silicon Valley, California, and Samsung Research America (SRA) to check on the development status of next-generation core technologies such as 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, Lee held successive meetings on the 18th and 19th in Washington D.C. with key White House aides including 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 Lee requested active support for the semiconductor industry from both the executive and legislative branches.

In the business community, Lee’s U.S. visit is seen as a moment of realization of the harsh realities Samsung and South Korea face amid global supply chain hegemony competition and the struggle for leadership in advanced industries. His reflections are interpreted as a resolve not to become complacent.

Meanwhile, Lee is scheduled to attend the trial on the 25th regarding the 'unfair merger of Samsung C&T and Cheil Industries and accounting fraud allegations at Samsung Biologics' immediately after his return. Subsequently, he is expected to lay the foundation for the New Samsung by implementing regular executive personnel changes and organizational restructuring planned for early next month.

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