South Korea has announced $950 billion in new AI initiatives involving Samsung Electronics, SK Group, and US tech firms, as global AI leaders scramble to close a shortage of the faster chips needed to power and develop more advanced systems.
SK Group signed deals worth $750 billion, including a partnership between SK Hynix and Nvidia valued at more than $500 billion, South Korea’s presidential Blue House said after an AI summit hosted by President Lee Jae Myung in San Francisco.
Samsung Electronics, for its part, said it had signed a memorandum of understanding with Broadcom covering up to $200 billion across memory chips, foundry services, and advanced packaging.
The agreements are the latest moves by US AI firms hoping to lock in supply as demand for chips and computing infrastructure outpaces what the industry can produce, pushing technology companies into closer partnerships with South Korea’s semiconductor and memory leaders.
Speaking at the summit, Lee said South Korea would lead the way into a new era of AI in partnership with global technology companies, making its “dynamic AI ecosystem” available to expand the global market for both industrial and personal AI use.
