Lee Jae-Myung Unveils San Francisco AI Declaration as Korean Chip Giants Announce USD 950 Billion in Deals

According to Lianhe Zaobao citing Bloomberg, South Korean President Lee Jae-myung on Friday, July 24, in San Francisco unveiled the San Francisco AI Declaration, saying South Korea will work with global technology companies to lead the artificial intelligence era. Korean semiconductor heavyweights also announced AI cooperation agreements worth a combined USD 950 billion with U.S. technology firms.

At the summit, Samsung Electronics and SK Group reached deals with U.S. tech companies totaling USD 950 billion, including more than USD 500 billion in cooperation plans between SK Hynix and Nvidia for large-scale AI data centers and next-generation memory chip development. Samsung Electronics also signed a five-year memorandum of understanding worth up to USD 200 billion with Broadcom for deeper cooperation in memory chips, foundry services and advanced packaging to help Broadcom build next-generation AI accelerators. SK Group Chairman Chey Tae-won said recent talks with Nvidia, Anthropic, OpenAI and Broadcom showed that demand for computing power and memory chips from AI customers is far above expectations. Nvidia CEO Jensen Huang told Bloomberg Television that South Korea is in a golden age and has the ability to help the world build AI infrastructure.