Samsung Chief Meets Intel CEO in Seoul

Samsung chief Lee Jae-yong met Intel CEO Patrick Gelsinger in Seoul on Monday to discuss cooperation between the two chip giants.

The meeting follows U.S. President Joe Biden's visit to Samsung's semiconductor plant in Pyeongtaek earlier this month to highlight the importance of bolstering supply chain resilience in microchips.

The head of Samsung's chip business, Kyung Kye-hyun, and Roh Tae-moon, chief of the mobile division, accompanied Lee to the meeting.

"They discussed a wide range of cooperation in next-generation memory chips, system semiconductors, foundries and mobile devices," a Samsung spokesman said.

Intel is both Samsung's rival and client. The U.S. company supplies CPUs to Samsung and entrusts the Korean electronics giant with consigned chip production. But Intel also recently announced its own resumption of foundry operations to become a major competitor of Samsung.