South Korea's leading memory chip makers, Samsung Electronics and SK Hynix, are set to provide top U.S. tech companies, including Nvidia, with their highly sought-after products in agreements worth $950 billion, a presidential adviser said on Saturday.
The announcement was made as President Lee Jae Myung visited San Francisco for talks with the heads of major U.S. technology companies, including OpenAI CEO Sam Altman, Nvidia's Jensen Huang, Anthropic's Dario Amodei and Broadcom's Hock Tan.
The two South Korean chip giants and U.S. tech companies agreed to "pursue cooperation" in the sector, presidential chief of staff for policy Kim Yong-beom told reporters in San Francisco while accompanying Lee.
South Korea is home to the world's leading memory chipmakers, Samsung Electronics and SK Hynix, whose advanced memory chips are essential to the rapidly evolving artificial intelligence industry and have fuelled optimism about the country's economic outlook.
The announcement includes SK Hynix's planned five-year cooperation agreement to supply $750 billion worth of memory chips to companies, including Nvidia, Kim said.
