Samsung Lee Jae Yong and Intel CEO gathered together in Seoul for chip collaboration

A recent report suggests that Samsung vice-chairman Lee Jae-Yong has recently met with Intel CEO Pat Gelsinger in Seoul South Korea. Both of the leaders discussed collaboration in various fields including next-generation memory, foundry, PC and mobile devices.

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Samsung and Intel are the world’s No. 1 and No. 2 chipmakers in terms of revenue. Intel CEO Kissinger flew to South Korea after attending the 2022 World Economic Forum in Davos, Switzerland. It’s noteworthy that Samsung’s semiconductor business revenue of $82.3 billion in 2021 surpassed Intel’s $79 billion.

However, more Samsung officials were presented in the meeting including co-CEO Kyung Kye-hyun, Samsung’s global chip business, Roh Tae-moon, head of Samsung’s mobile division, and representatives of various chip businesses from memory chips to processors and foundries.

After a long time, Intel announced its return to the chipmaking business, an industry-led by Taiwan’s TSMC and South Korea’s Samsung Electronics after exiting the foundry business in 2018. Since its comeback, Intel has poured a combined tens of billions of dollars into regaining its edge in chip technology.