Key facts
- South Korean conglomerates and global tech giants agreed to cooperation projects worth $950 billion.
- SK Group will supply $750 billion worth of high-performance semiconductors to global tech firms, including Nvidia.
- The agreements were reached during a meeting in San Francisco attended by leaders from South Korean conglomerates and global tech firms.
- President Lee Jae Myung declared a vision to make South Korea a trustworthy production base and supply partner for AI semiconductors.
- South Korea aims to become a key global player in the AI supply chain.
South Korean conglomerates and global technology firms, including Nvidia Corp. and OpenAI, have agreed to pursue cooperation projects valued at $950 billion. A significant portion of this, $750 billion, involves SK Group supplying high-performance semiconductors to global tech companies. The agreements were finalized during a high-level meeting in San Francisco, where South Korean President Lee Jae Myung unveiled the 'San Francisco AI Declaration.' This initiative aims to position South Korea as a crucial global hub for AI semiconductors and a reliable partner in the AI supply chain, leveraging its existing strengths in memory chip production. The declaration aligns with Seoul's broader strategy to invest heavily in semiconductor production clusters, physical AI, and AI data centers to foster global AI ecosystem growth and create new markets for AI applications.