Their talks at an unidentified location in Seoul the previous day are drawing attention for their possible focus on major domestic projects including plans to build a mega semiconductor cluster amid growing U.S. pressure on South Korean companies to expand investment in the U.S.
Although Cheong Wa Dae declined to confirm details of the meeting, saying it was difficult to verify private schedules, the meeting was part of a series of informal gatherings Lee has held or is seeking to arrange with top business leaders. He met with SK Group chairman Chey Tae-won on Aug. 20 and is also reportedly coordinating a meeting with Hyundai Motor Group chairman Chung Eui-sun.
The first one-on-one meeting between Lee and the Samsung chairman came about two months after they last met shortly before the government unveiled its semiconductor and artificial intelligence (AI)-related mega projects in June. The two also appeared together with other business leaders at an AI-related gathering in San Francisco about a month ago.
Samsung Electronics and SK hynix have pledged to invest more than 4,000 trillion won (US$2.89 trillion) in the development of physical AI and the expansion of infrastructure for AI data centers including a combined 800 trillion won for a semiconductor cluster in the country's southwestern region including Gwangju.
Earlier in the day, just hours before the dinner meeting, Lee stressed the importance of the projects, describing them as key to promoting locally led growth while fostering next-generation industries.
Their private dinner also came as Seoul and Washington have been discussing a $350 billion investment package under a broader trade deal reached last fall including $150 billion for a shipbuilding cooperation project known as MASGA and a $200 billion investment fund.
Seoul is reportedly in the final stages of talks with Washington on the fund’s first investment project, but the two sides have yet to agree on how profits and risks would be shared and how the investment would be made. Washington has been pushing for faster implementation of the project and has also called for more investment in the U.S. by South Korean companies. Seoul, however, has maintained that any investment should be commercially viable and generate stable returns to avoid placing an excessive burden on businesses and taxpayers.
Against this backdrop, Lee and the Samsung chief likely discussed how additional U.S. investment demands could affect Samsung's domestic investment plans and what government support could help speed up the southwestern cluster project. Samsung is already investing heavily in the U.S. while also expected to play a key role in the planned cluster.
As Lee seeks to work closely with leaders of major conglomerates to push ahead with the mega domestic projects while responding to growing pressure from Washington, experts have warned that additional large-scale investment commitments in the U.S. could strain South Korean companies' resources and potentially delay those projects.
AJP Takeaways
• President Lee Jae Myung reportedly held a private dinner with Samsung Group Chairman Lee Jae-yong in Seoul on Aug. 26, 2026, with discussions believed to have focused on major domestic investment projects, including a planned mega semiconductor cluster.
• Samsung Electronics and SK hynix have pledged a combined 800 trillion won for a semiconductor cluster in southwestern Korea as part of more than 4,000 trillion won in planned investments in physical AI and AI data center infrastructure.
• The meeting came amid negotiations between Korea and the United States over a $350 billion investment package and growing U.S. demands for Korean companies to expand investment in America, raising concerns that additional U.S. commitments could delay major domestic projects.
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