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Lee Jae-yong, chairman of Samsung Electronics, will meet U.S. Secretary of Commerce Howard Lutnick, who is taken into account the financial and commerce authority of the Trump second-term administration, on the Lee Kun-hee Assortment particular exhibition gala present held in Washington, D.C. Consideration is targeted on this assembly as Secretary Lutnick not too long ago talked about 100% tariffs on reminiscence merchandise.
The enterprise neighborhood is being attentive to the chance that Lee will meet with Secretary Lutnick to study in regards to the background of President Donald Trump’s assertion about elevating mutual tariffs to 25% once more, in addition to about semiconductor tariff strain.
Lee was invited to a golf assembly with U.S. President Trump in October final 12 months, and has been actively collaborating in supporting Korea-U.S. tariff negotiations, taking part in the position of a personal diplomat successfully.
Based on the enterprise neighborhood on Jan. 27, Lee is scheduled to attend the gala present on Jan. 28 (native time). It’s identified that main figures from the U.S. Congress and enterprise neighborhood, together with Secretary Lutnick, are included on the invitation record for this gala present. From Samsung, Lee, Hong Ra-hee, honorary director of Samsung Museum of Artwork Leeum, Lee Bu-jin, president of Lodge Shilla, and Lee Search engine optimisation-hyun, president of Samsung C&T, will attend.
The enterprise neighborhood is being attentive to the personal diplomat position because the Samsung household, together with Lee, meets key U.S. political figures.
Specific consideration is targeted on whether or not they can discover a answer to the tariffs introduced by the Trump administration. Earlier, Lutnick mentioned on Jan. 16 (native time), “Everybody who desires to provide reminiscence has two decisions. Pay 100% tariffs or produce in the USA.”
Lutnick’s assertion was made on the Micron manufacturing unit groundbreaking ceremony held close to Syracuse, New York State, and it’s interpreted as successfully concentrating on Samsung Electronics and SK Hynix. Based on market analysis agency Omdia, primarily based on the third quarter of final 12 months, U.S. Micron holds 25.8% of the worldwide DRAM market share, whereas Samsung Electronics and SK Hynix occupy 67.8%.
Each Samsung Electronics and SK Hynix have made large-scale investments in the USA. Samsung Electronics is producing some general-purpose NAND flash and picture sensors at its Austin plant in the USA, and is constructing a sophisticated foundry (semiconductor contract manufacturing) plant in Taylor.
Moreover, imposing 100% tariffs on reminiscence may place a higher burden on U.S. massive tech corporations corresponding to Google and Microsoft. Because of this, the reasonable chance of 100% tariffs is considered as low, however how a lot the tariff price will probably be lowered and whether or not tariffs will really be imposed are nonetheless undetermined, persevering with the uncertainty.
In the meantime, the Lee Kun-hee Assortment is receiving consideration in the USA as it’s the largest Korean artwork particular exhibition in North America held in over 40 years. A particular exhibition of the gathering opened on the Nationwide Museum of Asian Artwork (NMAA), a part of the Smithsonian Establishment in Washington, D.C., on Nov. 15 of final 12 months beneath the title of “Korean Treasures: Collected, Cherished, Shared.” The exhibition, which closes on Feb. 1, has achieved each field workplace success and significant acclaim, attracting over 40,000 guests. It showcases a complete of 172 objects and 297 works from the Lee Kun-hee Assortment held by the Nationwide Museum of Korea, together with 7 Nationwide Treasures and 15 Treasures. Lee Kun-hee Assortment abroad touring exhibitions are scheduled to be held on the Artwork Institute of Chicago in March subsequent 12 months and on the British Museum in September.
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