Lee Jae-yong's 'Solid' Global Network... A Breathless Week

This Week's Series of Meetings with Prominent Global Figures
Satya Nadella MS & Peter Wennink ASML CEO
Muhammad Bin Salman Crown Prince of Saudi Arabia, etc.

November 20, 2021, Chairman Lee Jae-yong and Satya Nadella, CEO of Microsoft.

[Asia Economy Reporter Park Sun-mi] Samsung Electronics Chairman Lee Jae-yong is set to hold consecutive meetings this week with prominent global figures such as Satya Nadella, CEO of Microsoft (MS), Peter Wennink, CEO of ASML, and Mohammed bin Salman, Crown Prince of Saudi Arabia. As Lee, who has demonstrated exceptional ability in leveraging a solid global network for business, is meeting these figures for the first time since his appointment as chairman, there are high expectations that this will serve as an opportunity for business expansion.

According to business circles on the 14th, Lee is expected to meet with Nadella, who is visiting Korea to attend MS's developer event 'MS Ignite Spotlight on Korea,' on the 15th. Although this is Nadella's first visit to Korea in four years since 2018, Lee and Nadella share a close relationship, having met several times in the past to discuss business.

Last November, when Lee traveled to the U.S., he visited MS headquarters and met with Nadella. When Nadella visited Korea in 2018, the two also met to share strategies on AI and other business interests of both companies. Nadella, who joined MS in 1992 and rose to CEO in 2014, is a seasoned MS engineer-turned-executive. As he holds the key to rebuilding MS's growth engine and future direction, it is expected that Lee will be able to concretize cooperation discussions with Nadella on future businesses such as AI, cloud computing, and the metaverse.

June 14, 2022, Chairman Lee Jae-yong and Peter Wennink, CEO of ASML.

On the 16th, Lee is also expected to meet with Peter Wennink, CEO of ASML, who is visiting Korea to attend the groundbreaking ceremony of the Hwaseong semiconductor cluster. ASML holds absolute influence in the lithography process, the most critical step in semiconductor manufacturing technology. Since it plays a key role in the production lines of top semiconductor manufacturers such as Samsung, TSMC, SK Hynix, and Intel, maintaining a close cooperative relationship is essential for Samsung, which is focused on growing its semiconductor business. The annual production of extreme ultraviolet (EUV) lithography equipment is limited to around 40 units, leading to fierce competition among semiconductor companies to secure these machines early. Lee, who visits ASML during every European business trip, met with Wennink in June during a European trip to discuss strengthening cooperation between the two companies.

On the 17th, there is also a high possibility that Lee will meet with Saudi Arabia’s Crown Prince Mohammed bin Salman, who is visiting Korea for the first time in over three years. When Crown Prince bin Salman visited Korea three years ago, Lee met him at Seungjiwon. Especially as Saudi Arabia is currently promoting a roughly 1,000 trillion won ‘Giga Project,’ including the Neom City project as part of its 15-year long-term economic development plan, Samsung, which possesses advanced technologies such as 5G, AI, and semiconductors, has boundless opportunities for business collaboration. It is also known that Crown Prince bin Salman will use this visit to seek companies to win contracts for Neom City, so discussions on various IT projects and smart city construction cooperation for Neom City are expected to proceed.

In the past, the 'JY Network' has always played a significant role in Samsung’s large-scale contract signings and new market entries, so the series of meetings with prominent global figures scheduled immediately after Lee’s appointment as chairman is expected to greatly influence Samsung’s opportunity expansion. Especially since Lee attends the trial regarding the unfair merger of Samsung C&T and Cheil Industries every Thursday and the trial concerning Samsung Biologics’ accounting fraud allegations every three weeks on Fridays, making it difficult for him to be absent for long periods, this week’s meetings with key figures present an even more special opportunity.

A business circle official said, "Lee Jae-yong, who officially assumed the chairmanship this year, will broaden his global management footprint, seek new business opportunities, and secure Samsung’s future growth engines. Since companies are both regulatory subjects and investment targets in their respective countries, it is important for 'owner-managers' to build networks with global key leaders. Lee’s global network is so solid that it is considered a core asset for both Samsung and the nation."

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