Samsung chair heads to Washington amid chip deal with Tesla

Samsung Electronics Chairman Jay Y. Lee has embarked on a business trip to Washington just one day after announcing a landmark $16.5 billion chip supply agreement with Tesla. 

The deal, which involves advanced semiconductors manufactured at Samsung’s Texas facility, signals a deepening partnership between the South Korean tech giant and the American electric vehicle leader.

While Samsung confirmed Lee’s departure, it offered no details about the agenda. However, South Korean media, including Yonhap News Agency, suggest that Lee’s presence in the US may align with broader trade discussions between Seoul and Washington. 

With a 1 August deadline looming, South Korean officials are working to finalise a trade agreement to ease or eliminate tariffs threatened by the US on key Korean exports.

The diplomatic push has drawn high-level participation from Seoul. Finance Minister Koo Yun-cheol is preparing to meet with US Treasury Secretary Scott Bessent, while Foreign Minister Cho Hyun is scheduled to hold talks with Secretary of State Marco Rubio. 

Though the South Korean presidential office has not commented on Lee’s involvement, his timing suggests a coordinated effort between the nation’s corporate and political leadership to safeguard industrial ties with the US.

Source: Reuters

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