Chinese Premier Li Qiang expressed China’s welcome for increased investment from Samsung during a meeting with the company’s chairman, Jay Y. Lee, in Seoul on Sunday, as reported by state news agency Xinhua. This meeting occurs against a backdrop of foreign businesses grappling with geopolitical uncertainties in the Chinese market.
The discussion between China’s second highest-ranking official and the Korean business leader preceded a summit involving Li, South Korean President Yoon Suk Yeol, and Japanese Prime Minister Fumio Kishida. This summit marks the first trilateral talks among these Asian neighbors in over four years.
Samsung Electronics has significantly invested in China, committing $24 billion over the past six years, according to a November report by China Daily. However, the company faces increasing challenges due to the escalating U.S.-China tensions, particularly with the export controls imposed by Washington to restrict China’s access to advanced semiconductor technology.
Li’s engagement with Samsung’s chairman aligns with his earlier statements during a bilateral meeting with President Yoon. He encouraged more Korean companies to invest in China and called for enhanced cooperation between Beijing and Seoul to ensure the stability of industrial supply chains.
