Samsung Electronics Chairman Lee Jae-yong traveled to Beijing on Sunday to participate in the China Development Forum for the second consecutive year. This visit underscores Samsung’s commitment to maintaining strong relationships within this crucial market amid escalating US-China tensions.
SK hynix CEO Kwak Noh-jung also attended the prestigious China Development Forum, which commenced on Sunday at the Diaoyutai State Guesthouse, according to industry insiders.
The CDF, organized by a think tank under the auspices of China’s State Council, serves as a vital platform for dialogue between high-ranking Chinese officials and global business executives.
This year’s two-day forum, themed “China in its 15th Five-Year Plan Period: Advancing High-Quality Development and Creating New Opportunities Together,” welcomed approximately 300 participants. Among them were Chinese Premier Li Qiang and leaders from prominent global corporations such as Apple, Saudi Aramco, BMW, Mercedes-Benz, and HSBC, as well as semiconductor giants Qualcomm and Broadcom.
The South Korean delegation included Lee Jae-yong, Kwak Noh-jung, and Lee Si-wook, head of the Korea Institute for International Economic Policy.
Samsung and SK hynix, both operating manufacturing and sales facilities in the US and China, are navigating the delicate balance of maintaining their presence in both countries while ensuring continued access to China, a significant production center and market.
Following the forum, Lee Jae-yong is expected to engage with key Chinese partners and remain in the country for several days. Potential visits may include leading technology companies in Beijing and nearby regions, home to firms like Xiaomi, Baidu, and ByteDance.
Lee’s participation in last year’s forum marked his first attendance in two years. During his week-long stay, he visited Xiaomi’s electric vehicle factory in Beijing and met with Chairman Lei Jun to explore potential collaborations in automotive electronics. He also traveled to Shenzhen to tour BYD’s headquarters.
