South Korea's Chipmakers Set to Announce Major US Deals During Presidential Visit
Samsung Electronics (005930.KS) and SK Hynix (SKHY) are set to announce significant supply agreements with U.S. technology firms during President Lee Jae Myung’s visit to Silicon Valley, according to reports. These deals include long-term memory chip supply contracts, strategic investment partnerships, and memorandums of understanding. The negotiations have been ongoing for months but were accelerated by the presidential trip in late July 2026. The agreements are part of a broader $880 billion South Korean initiative led by Samsung, SK Group, and Naver to strengthen Korea’s position in the global AI supply chain through domestic mega-clusters focused on memory chip manufacturing and data centers. U.S. tech companies already account for 80%–90% of orders driving this expansion. The timing coincides with SK Hynix's recent $26.5 billion Nasdaq IPO, marking a significant shift in how these deals impact global markets. The news led to sharp gains in both Samsung and SK Hynix shares on July 24.
Topics: AI supply chain corporate partnerships semiconductors U.S.-South Korea relations