Samsung Electronics chairman Lee Jae-yong is attending the China Development Forum (CDF) in Beijing on March 22-23 and is expected to meet major Chinese business partners following the event, according to Asiae and Korea Times.
Lee is expected to remain in China for several days after the forum to meet executives from partner companies in Beijing and nearby regions. Beijing is home to major Chinese technology firms, including Xiaomi, JD.com, Baidu, and ByteDance, which are considered potential counterparts for meetings.
The visit follows a similar trip in 2025, when Lee toured Xiaomi's electric vehicle (EV) plant and met founder Lei Jun to discuss cooperation in automotive electronics, and later visited BYD's headquarters in Shenzhen.
CDF serves as platform for foreign investment outreach
The CDF is an annual event where senior Chinese officials engage directly with global corporate leaders to attract foreign investment. Held at the Diaoyutai State Guesthouse under the theme of China's 15th Five-Year Plan, this year's forum has drawn about 88 global executives, including Lee, Apple CEO Tim Cook, and SK Hynix CEO Kwak Noh-jung.
Chinese officials, including Premier Li Qiang, are also participating, underscoring the forum's role as a key platform for policy and business dialogue.
Xi expected to emphasize foreign investment
Against a backdrop of slowing economic growth, China is expected to use the forum to reinforce its push to attract overseas capital. Chinese President Xi Jinping is widely expected to meet with global CEOs and urge stronger foreign investment, although details of such meetings have not been officially confirmed.
The outreach is expected to focus on advanced industries, including semiconductors, as China seeks to strengthen its technology capabilities.
Focus turns to Samsung's China semiconductor strategy
Market watchers are closely monitoring whether Lee's visit could lead to expanded semiconductor investment in China, particularly at Samsung's NAND flash production facility in Xi'an.
The Xi'an plant, which reportedly accounts for 40-60% of Samsung's NAND output, currently operates on 128-layer technology, with plans to transition to more advanced 236-layer and 286-layer processes.
Such upgrades had been constrained by US export controls on semiconductor equipment. However, recent policy changes allowing annual approvals for equipment shipments have eased regulatory hurdles, creating a more favorable environment for expanding production capabilities.
Korean chipmakers balance growth and geopolitics
SK Hynix CEO Kwak Noh-jung is also attending the forum for a second consecutive year, highlighting continued engagement by South Korean memory suppliers in China.
Both Samsung and SK hynix, which are on track for strong first-quarter earnings, may consider increasing investment in their Chinese operations if conditions allow, as global demand for memory chips continues to grow, according to Seoul Economic Daily.
Chinese leadership may use the forum to encourage additional investment from foreign chipmakers, reflecting efforts to support economic growth and strengthen semiconductor industry capabilities.
Article edited by Jack Wu
