Samsung Electronics Co. Chairman Lee Jae-yong and Mercedes-Benz Chief Govt Ola Källenius met in Seoul on Thursday to debate increasing cooperation in next-generation automotive applied sciences, from batteries to digital cockpit techniques, as competitors within the world electrical and connected-car market intensifies.
Källenius’ Seoul journey additionally drew an unusually high-powered turnout from Korea’s high industrial teams, similar to LG and HS Hyosung, as Korean conglomerates are strengthening their partnerships with the German automaker within the age of software-defined and electrified automobiles.
DINNER AT SEUNGJIWON, SAMSUNG’S EXCLUSIVE GUESTHOUSE
The Samsung chairman, extensively identified within the West by his English identify Jay Y. Lee, hosted Källenius for a non-public dinner at Seungjiwon, Samsung’s unique Hanam-dong guesthouse that the late Chairman Lee Kun-hee used to obtain solely top-tier guests.
The incumbent chairman met solely big-name enterprise leaders, together with SoftBank’s Masayoshi Son and Meta’s Mark Zuckerberg at Seungjiwon.
Trade officers stated the selection of venue indicators Samsung’s willpower to raise its relationship with Mercedes from a provider hyperlink to a long-term strategic partnership.
Samsung SDI president Choi Ju-sun, Christian Sobottka, CEO of Samsung’s US-based subsidiary Harman, and different automotive parts-related executives joined the dinner.
Lee and Källenius final met on the China Improvement Discussion board (CDF) in Beijing this March.
SAMSUNG SEEKS CLOSER TIES WITH MERCEDES
Samsung already provides Mercedes with infotainment techniques by means of Harman and digital key options through Samsung Electronics, however analysts say the ties have but to achieve an “alliance-level” closeness.
Lee is alleged to have offered SDI’s newest high-performance battery applied sciences whereas selling Samsung’s broader ecosystem – semiconductors, OLED shows and in-car leisure platforms – as the inspiration for a deeper collaboration.
LG’S 20-YEAR ALLIANCE WITH MERCEDES
Earlier within the day, Källenius visited LG’s headquarters in Yeouido, his first cease after arriving in Seoul.
LG Group’s high “auto components one group” executives – LG Electronics Inc. CEO Cho Joo, LG Power Answer Ltd. CEO Kim Dong-myung, LG Show Co. CEO Jeong Cheol-dong and LG Innotek Co. CEO Moon Hyuk-soo – attended the assembly.
LG used the assembly to spotlight what it known as a “full-stack” providing for next-generation automobiles, combining AI-powered cockpit brokers, OLED panels, digicam modules for autonomous driving and battery techniques.
The businesses reaffirmed a partnership that started 20 years in the past when LG Show first equipped automobile screens to Mercedes in 2004.
“We purpose to strengthen our strategic partnership with Mercedes-Benz, primarily based on confirmed know-how and belief within the world market,” stated LG Electronics CEO Cho.
Källenius praised LG’s innovation document, saying: “At any time when we strive one thing new, LG is of course among the many first companions we flip to. We had significant discussions with LG on automobile AI brokers and battery applied sciences.”
After he met with LG, the Mercedes CEO additionally met with HS Hyosung Vice Chairman Cho Hyun-sang, whose subsidiary HS Hyosung The Class operates as an official Mercedes-Benz supplier in Korea.
