Lee Jae-yong Meets with Chinese Premier Li Qiang: "Thank You for Supporting Samsung's China Business During COVID-19"

Li Chang "Welcomes Investment and Cooperation from Korean Companies like Samsung"
China Helps Minimize Disruptions to Samsung's Business During COVID-19

Samsung Electronics Chairman Lee Jae-yong held a meeting with Chinese Premier Li Qiang.

On the 26th, Lee Jae-yong, Chairman of Samsung Electronics, and Li Qiang, Premier of China, shake hands ahead of their meeting at the Shilla Hotel in Seoul. Photo by Samsung Electronics

According to Samsung Electronics on the 27th, Chairman Lee met Premier Li, who visited Korea to attend the 9th Korea-Japan-China Summit, on the 26th at the Shilla Hotel in Seoul. Samsung Electronics is the only Korean company that Premier Li met separately during this visit. Premier Li previously visited Samsung Electronics’ Suwon and Giheung plants in 2005 when Xi Jinping, then Secretary of Zhejiang Province, visited Korea, with Li serving as secretary-general. This meeting with Chairman Lee marks the first time in 19 years since then.

Chairman Lee expressed his gratitude to Premier Li, saying, "I deeply appreciate your support in helping Samsung and its partners overcome the crisis during the COVID-19 period." Earlier, the Chinese government supported minimizing disruptions to Samsung’s business by approving charter flights for Samsung Electronics employees traveling to China during COVID-19, preventing production stoppages at Samsung’s semiconductor plant in Xi’an during lockdowns, and supporting early operations of key Samsung SDI battery partners during the Shanghai lockdown.

Premier Li also responded by welcoming expanded investment and cooperation. According to the Chinese Ministry of Foreign Affairs, Premier Li told Chairman Lee, "Samsung’s cooperation with China is a vivid microcosm of the mutually beneficial and cooperative development between China and Korea. I hope that companies from both countries will explore cooperation potential in new areas such as advanced manufacturing, digital economy, artificial intelligence (AI), green development, and biomedicine, thereby enhancing the quality of China-Korea economic and trade cooperation."

He continued, "China’s large market is always open to foreign-invested enterprises," emphasizing, "We will gradually promote institutional opening, expand market access, and properly implement national treatment for foreign enterprises to actively address their concerns and demands." He added, "We welcome Korean companies such as Samsung to continue expanding investment and cooperation with China and to jointly enjoy more new opportunities brought by China’s new development."

The meeting was also attended by Samsung executives including Jeon Young-hyun, Vice Chairman and Head of Samsung Electronics’ Semiconductor (DS) Division; Roh Tae-moon, President and Head of Samsung Electronics’ DX Division MX Business; Park Hak-gyu, Head of Samsung Electronics’ Management Support Office; Choi Yoon-ho, President and CEO of Samsung SDI; Choi Ju-seon, President and CEO of Samsung Display; Yang Geol, President of Samsung Electronics Samsung China; and Kim Won-kyung, President and Head of Samsung Electronics’ Global Public Affairs Office. On the Chinese side, attendees included Wu Zhenglong, Secretary-General of the State Council; Jin Zhuanglong, Minister of the Ministry of Industry and Information Technology; Wang Wentao, Minister of the Ministry of Commerce; Sun Yeli, Minister of the Ministry of Culture and Tourism; Ma Zhaoxu, Vice Minister of Foreign Affairs; and Xing Haiming, Chinese Ambassador to Korea.

Chairman Lee has long worked to build networks with key Chinese figures including President Xi Jinping, the Premier, and members of the Political Bureau Standing Committee. His relationship with President Xi began in 2005 when Xi, then Party Secretary of Zhejiang Province, visited Samsung Electronics’ Suwon plant. Chairman Lee further strengthened this relationship by serving as a director of the Boao Forum for Asia in 2013. Additionally, despite travel restrictions due to COVID-19 in 2020, Chairman Lee visited Samsung’s semiconductor plant in Xi’an to inspect the site. He was the first businessperson to visit China after the outbreak of the COVID-19 pandemic.

Samsung also continues various social contribution programs in China. Samsung has ranked first for 11 consecutive years since 2013 in the Corporate Social Responsibility (CSR) evaluation rankings for foreign-invested enterprises published by the Chinese Academy of Social Sciences. To foster talent in science and technology, Samsung operates science competitions for Chinese middle, high school, and university students, as well as the "Samsung STEM Girls Program" for girls aged 12 to 16. Since 2015, Samsung has also been running the "Sharing Village Project" in cooperation with the China Poverty Alleviation Foundation to promote rural tourism and help villages achieve self-reliance.