[Asia Economy Reporter Park Sun-mi] Samsung Electronics Vice Chairman Lee Jae-yong discussed semiconductor and supply chain cooperation between South Korea and Japan through a series of meetings with the delegation from the Japan Business Federation (Keidanren), who visited Korea to attend the Korea-Japan Business Meeting.
According to the business community on the 5th, Vice Chairman Lee met with Toshiaki Higashihara, Vice Chairman of Keidanren and Chairman of the Hitachi Group, at Seungjiwon on the same day. It is reported that Vice Chairman Lee and Vice Chairman Higashihara had lunch together and discussed cooperation plans in the semiconductor sector between the two companies. Samsung Electronics currently supplies semiconductors to Hitachi, Japan's largest electronics manufacturer.
On the previous day, Vice Chairman Lee also met with Masakazu Tokura, Chairman of Keidanren and Chairman of Sumitomo Chemical, to discuss ways to revitalize exchanges between Korean and Japanese companies and cooperate to stabilize supply chains. Sumitomo Chemical currently supplies OLED smartphone polarizing films to Samsung Electronics.
Vice Chairman Lee's moves came as President Yoon Suk-yeol met with the Keidanren delegation the day before and emphasized, "We must join forces and wisdom to create a future-oriented cooperative relationship. Businesspeople from both countries should continue to communicate." President Yoon urged active communication between companies from both countries to expand cooperation in the upcoming era of economic security.
A business community official said, "Vice Chairman Lee's extensive network in Japan is already well known," adding, "Expectations are high for Vice Chairman Lee's role as a private diplomat at the time when efforts to improve Korea-Japan relations are beginning in earnest."
However, Vice Chairman Lee, who has a broad network not only in Japan but worldwide, will not attend the 'billionaire social club' Sun Valley Conference this year due to the aftermath of the trial related to the state affairs manipulation case.
According to major foreign media, Lee's name was not included in the list of attendees for the five-day conference held from the 5th to the 9th at the resort in Sun Valley, Idaho, USA. Vice Chairman Lee, who had attended the event annually, has been unable to attend since 2017 due to investigations, trials, and imprisonment related to the 'state affairs manipulation case.' This year's conference attendee list includes Elon Musk, CEO of Tesla; Tim Cook, CEO of Apple; Bill Gates, founder of Microsoft; and Mark Zuckerberg, CEO of Meta.
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