Up to 900,000 Wafers Ordered Monthly by OpenAI
Samsung and SK Face Massive Investments to Meet Demand
Lee Plans to Support Funding by Easing Separation of Industrial and Financial Capital Regulations
Kim Yongbeom, Chief of Policy Office at the Presidential Office, is briefing on President Lee Jae-myung's meeting with Sam Altman, CEO of OpenAI, at the Yongsan Presidential Office on the 1st. Photo by Yonhap News
On October 1, President Lee Jae-myung instructed officials to consider easing the separation of banking and commerce regulations during a meeting with Sam Altman, CEO of OpenAI.
Kim Yongbeom, Chief of Policy Office at the Presidential Office, stated during a briefing at the Yongsan Presidential Office that "President Lee instructed that it would be possible to consider easing the separation of banking and commerce regulations within a framework where safeguards are in place to prevent monopolistic abuses when raising investment funds." This directive was issued during a closed-door meeting following the signing of a partnership between Sam Altman and Samsung and SK.
Chief Kim explained, "At OpenAI's request, SK and Samsung would theoretically need to build about two new factories," adding, "President Lee anticipates large-scale investments and the need to raise massive amounts of capital. Although both companies generate significant profits, the scale itself is enormous."
President Lee Jae-myung is taking a commemorative photo after signing an MOU between the Ministry of Science and ICT and OpenAI to accelerate Korea's AI transformation and the creation of an AI ecosystem at the Yongsan Presidential Office on the 1st. Photo by Yonhap News
On this day, OpenAI entered into a partnership with Samsung and SK to cooperate on the Stargate Project. The Stargate Project is a large-scale AI infrastructure initiative led by OpenAI, which requires up to 900,000 semiconductor wafers per month. Under the partnership, Samsung and SK will supply these wafers, and astronomical funding will be required. President Lee's plan is that easing the separation of banking and commerce regulations would make it easier for Samsung and SK to secure the necessary funds.
Chief Kim reiterated, "Although I cannot make a definitive statement, this is a strategically vital industry, and these two companies hold such positions. The significance for Korea's industrial policy, manufacturing, and the future of the real economy is so great that astronomical resources will be needed."
Meanwhile, CEO Altman reportedly said, "The world cannot advance AI without Korea. This is not an exaggeration," adding, "The singularity depends on memory chips." In response, President Lee stated, "Korea will become the world's most exemplary AI testbed," and emphasized, "There is no place like Korea."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
