Samsung Electronics Chairman Lee Jae-yong visited China for the first time in three years and attended the China Development Forum in Beijing, where he met with heads of major tech firms including Apple CEO Tim Cook and Qualcomm CEO Cristiano Amon. They discussed various agendas, including global management issues, future industry trends and mid- to long-term cooperation. Lee also met with Chen Miner, the party secretary of Tianjin and a confidant of Chinese President Xi Jinping. The visit comes after the US released details of the guardrails provisions for its CHIPS for American Incentive Program, which limits the recipient of governmental subsidies from increasing production capacity in China, amid the intensifying Washington-Beijing rivalry. Lee also inspected Samsung Electro-Mechanics’ key production facility for Multilayer Ceramic Capacitor in Tianjin, where he encouraged workers. Samsung’s MLCC regulates the current’s flow in a circuit and prevents electromagnetic interference between components. The plant is one of Samsung’s two key production facilities for MLCC and was opened in Tianjin in 2021. Samsung has several other facilities in the northern region, including a camera module plant and a smartphone organic light-emitting diode production plant, making the region strategically important for the company.
Samsung’s Top Executive Visits China for the First Time in Three Years, Holds Crucial Meetings with Officials
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