Samsung Electronics Chairman Lee Jae-yong visited Beijing on Sunday to attend a high-level economic forum for a second straight year, as the company seeks to maintain ties in the key market amid rising US-China tensions.
SK hynix CEO Kwak Noh-jung also attended the China Development Forum, which opened Sunday at the Diaoyutai State Guesthouse, according to industry sources.
The CDF, hosted by a think tank under China’s State Council, is a key platform for engagement between senior Chinese officials and global business leaders.
The two-day forum, held under the theme "China in its 15th Five-Year Plan Period: Advancing High-Quality Development and Creating New Opportunities Together,” brought together some 300 participants, including Chinese Premier Li Qiang and executives from global companies such as Apple, Saudi Aramco, BMW, Mercedez-Benz and HSBC, along with semiconductor firms including Qualcomm and Broadcom.
Attendees from South Korea included Lee and Kwak, as well as Lee Si-wook, head of the Korea Institute for International Economic Policy.
Samsung and SK hynix — both of which have manufacturing and sales bases in the US and China — face growing pressure to balance their positions between the two countries, while maintaining access to China, a major production hub and market.
Lee Jae-yong was expected to meet major Chinese partners following the forum and remain in the country for several days, with visits likely to include key technology companies in Beijing and nearby regions home to companies such as Xiaomi, Baidu and ByteDance.
Lee attended the forum last year for the first time in two years. Staying in the country for about a week, he visited Xiaomi’s electric vehicle factory in Beijing, where he met Chairman Lei Jun to discuss potential cooperation in automotive electronics. He also traveled to Shenzhen to visit BYD’s headquarters.
herim@heraldcorp.com
