President Lee Jae-myung held a dinner meeting with global AI industry leaders and major Korean business executives in San Francisco on May 24 (local time) to discuss Korea-US AI industry cooperation. The meeting brought together NVIDIA CEO Jensen Huang, Broadcom President and CEO Hock Tan, Microsoft Azure Hardware President Rani Borkar, Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, Hyundai Motor Group Chairman Chung Eui-sun, and Naver Board Chairman Lee Hae-jin at a restaurant near San Francisco Bay.
Global AI Leaders and Korean Executives Gather in San Francisco
The dinner took place at a restaurant near the San Francisco Bay dock, with government officials including Deputy Prime Minister and Minister of Science and ICT Bae Kyung-hoon and Presidential Chief of Policy Office Kim Yong-beom also attending. The combined market capitalization of the companies represented reached approximately 17,000 trillion won based on recent closing prices. The meeting featured California local cuisine including fish and chips, crab cakes, clam chowder, and fried calamari, accompanied by beer.
President Lee proposed a toast explaining that in Korea, family members who eat together are called "shikgu" (食口). When Jensen Huang responded "We are family," President Lee said the Korean equivalent would be "We are shikgu." President Lee then led the attendees in chanting "We are" followed by "shikgu" as they clinked beer bottles.
Jensen Huang Predicts Korean Stocks Will Rise Again
Conversation turned to the recent volatility in Korean stock markets and economic conditions. When President Lee mentioned that Korean stock prices have been experiencing corrections, Jensen Huang responded with an optimistic outlook, stating "It's going to go back up." Huang also mentioned the favorable semiconductor industry conditions, saying "Korea is really rich," to which President Lee humorously replied "That's right, but I'm a public servant so it doesn't apply to me."
When Deputy Prime Minister Bae offered to pay for the meal, Huang joked about buying beer for everyone in the establishment, prompting President Lee to again mention his public servant status, drawing laughter. President Lee asked Huang whether his past experience visiting Yongsan Electronics Market in Seoul had been a major source of energy, giving him a thumbs up.
Global CEOs Highlight Korea's AI Industry Potential
During the private discussion that followed, President Lee stated "Thanks to business leaders, the Korean economy has grown, and I ask that you continue to contribute to the development of the industrial ecosystem going forward." Global CEOs responded that "Korea has the capability to challenge the global top 3 in the AI field" and "with active investment, it will be possible to create world-class frontier AI models in a short period of time." They also suggested that alongside utilizing global AI models, Korea needs to develop its own independent AI models.
FAQ
What did Jensen Huang say about Korean stocks at the San Francisco dinner?
When President Lee Jae-myung mentioned that Korean stock prices have been experiencing corrections at the May 24 dinner meeting, NVIDIA CEO Jensen Huang responded "It's going to go back up," providing an optimistic outlook on the Korean stock market.
Who attended the AI leaders dinner in San Francisco on May 24?
The dinner included NVIDIA CEO Jensen Huang, Broadcom President and CEO Hock Tan, Microsoft Azure Hardware President Rani Borkar from the US side, and Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, Hyundai Motor Group Chairman Chung Eui-sun, and Naver Board Chairman Lee Hae-jin from the Korean side, along with government officials.
What did global CEOs say about Korea's AI industry potential?
Global CEOs stated that Korea has the capability to challenge the global top 3 in the AI field and that with active investment, it will be possible to create world-class frontier AI models in a short period of time. They also suggested Korea should develop its own independent AI models alongside utilizing global AI models.
