Samsung, Apple will participate in the major China Development Forum

Seoul (IANS) | Lee Jae-yong, executive chairman of Samsung Electronics, is on his way to China to attend the China Development Forum, where Apple CEO Tim Cook is also present. Sources have given this information.

Li arrived in Beijing to attend the high-profile annual forum, which is scheduled to run from Saturday to Monday at the Diaoyutai State Guesthouse, Yonhap news agency reported.

Reported attendees include Apple CEO Tim Cook, Pfizer CEO Albert Borlather and Mercedes-Benz Group AG chairman Ola Kallenius.

During his visit, Li was expected to meet with global and Chinese CEOs and high-ranking Chinese government officials.

The forum will take place amid rising tensions between Washington and Beijing after the US government issued the National Security Guardrails for its Chips Act earlier this week, blocking China from gaining access to key chip technologies it receives from federal subsidies. to limit the business activities of the chip makers involved in

Samsung, the world’s largest memory chip maker, operates a chip manufacturing plant in the Chinese city of Xian, which accounts for about 40 percent of Samsung’s global NAND flash production.

In Suzhou, the chip maker operates a semiconductor packaging factory.

–IANS