Potential for Supplying Telecommunications Equipment and Collaborating on AI Infrastructure
Mukesh Ambani, Chairman of Reliance Group India and known as Asia's richest person, is set to visit South Korea. He is expected to meet with Lee Jae-yong, Chairman of Samsung Electronics, to discuss cooperation on future business ventures.
According to the business community on November 19, Chairman Ambani, accompanied by his eldest son Akash Ambani, Chairman of the Board of Reliance Jio Infocomm, is scheduled to visit Korea for a two-day trip starting on November 25. It is highly likely that Chairman Ambani will have a dinner meeting with Chairman Lee on the day of his arrival. At this meeting, they are expected to discuss ways to expand cooperation in future business areas such as 5G telecommunications equipment, 6G technology development, and artificial intelligence (AI).
Reliance Group operates across a wide range of sectors including petrochemicals, steel, telecommunications, retail, and finance. Its telecommunications subsidiary, Jio, is a massive carrier with 500 million subscribers. Samsung Electronics supplied telecommunications equipment for the construction of Jio's 4G network in India. As Jio is currently building a 5G network in India, there are expectations that Samsung Electronics may supply additional equipment.
Reliance Group's construction of a 3GW-class data center in India, as well as its efforts to expand AI infrastructure, could also present new business opportunities for Samsung Electronics. Chairman Ambani, with a net worth of 116 billion dollars (approximately 170 trillion won), is India's wealthiest individual and ranked ninth on Forbes' list of the world's richest people last year.
Since entering India in 1995, Samsung Electronics has become the country's largest electronics company. In July last year, Chairman Lee Jae-yong visited India to attend the wedding of Chairman Ambani's youngest son. During the trip, Chairman Lee encouraged local employees and urged them to "make history with fierce competitiveness and a sense of urgency."
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