South Korea, Nvidia ink $950 bn AI and chip cooperation deals in San Francisco
Synopsis
In a single San Francisco meeting, South Korea committed to $950 billion in tech cooperation deals — anchored by a $750 billion SK Group semiconductor supply pact with Nvidia — and President Lee Jae Myung declared the country an 'irreplaceable' node in the global AI supply chain. The scale dwarfs most bilateral tech agreements and signals Seoul's sharpest pivot yet from memory-chip exporter to full-stack AI infrastructure partner.
Key Takeaways
South Korean conglomerates and global tech firms, including Nvidia , agreed on cooperation projects worth $950 billion at a San Francisco meeting on 25 July .
SK Group will supply $750 billion worth of high-performance semiconductors to global tech companies, including Nvidia, under a long-term deal.
Joint investment in AI data centres with a combined capacity of 5 gigawatts and 2 million GPUs was also agreed upon.
Naver will build global AI factories worth $10 billion through deals with Nvidia and Brookfield Corp.
President Lee Jae Myung issued the 'San Francisco AI Declaration,' vowing to make South Korea an 'irreplaceable' AI chip production base.
Last month, South Korea separately announced three mega projects totalling over 4,000 trillion won ($2.73 trillion) in semiconductor and AI infrastructure.
South Korean conglomerates and global technology giants, including Nvidia, have agreed to pursue cooperation projects collectively valued at $950 billion, a senior presidential official announced following a high-level meeting in San Francisco on 25 July. The deals span semiconductor supply, AI data centres, and infrastructure, positioning South Korea as a central node in the global AI supply chain.
Key Deals Announced
The centrepiece of the agreement is a long-term arrangement under which SK Group will supply $750 billion worth of high-performance semiconductors to global technology firms, including Nvidia, according to Kim Yong-beom, presidential chief of staff for policy, who addressed reporters at a press briefing. South Korean firms and their global counterparts also agreed to jointly invest in large-scale AI data centres with a combined capacity of 5 gigawatts and 2 million graphics processing units (GPUs).
Who Was in the Room
The San Francisco meeting brought together the heads of South Korea's largest conglomerates and the chiefs of global technology companies. Samsung Electronics Co. Chairman Lee Jae-yong and SK Group Chairman Chey Tae-won represented the Korean side, while OpenAI Chief Executive Officer Sam Altman and Nvidia CEO Jensen Huang were among the global participants. The gathering signals a deepening of the technology alliance between South Korea's industrial heavyweights and the firms driving the current AI infrastructure buildout.
Naver's $10 Billion AI Factory Push
South Korea's internet portal Naver will establish global AI factories worth $10 billion through a strategic investment agreement with Nvidia and an infrastructure supply deal with Brookfield Corp., a Canadian investment management firm. The move extends South Korea's AI ambitions beyond chip manufacturing into the data centre and AI services layer.
The San Francisco AI Declaration
South Korean President Lee Jae Myung used the occasion to declare a national vision, pledging to transform South Korea into a trustworthy production base and supply partner for AI semiconductors. 'South Korea will make a leap forward to become an irreplaceable, core nation in the AI supply chain,' Lee said under what his office called the 'San Francisco AI Declaration.' He added: 'Based on the world's highest-level competitiveness and production capacity in memory semiconductors we have, (South Korea) will become a trustworthy AI chip production base and supply chain partner.'
Context and What Comes Next
The San Francisco agreements build on momentum that Seoul has been cultivating as global demand for semiconductors surges alongside the AI boom. Just last month, South Korea announced three mega projects involving total investments of over 4,000 trillion won ($2.73 trillion) across a semiconductor production cluster, physical AI, and AI data centres. This latest round of deals cements South Korea's pivot from being a memory-chip supplier to positioning itself as an end-to-end AI infrastructure partner. Industry observers will now watch whether the headline figures translate into binding contracts with verifiable timelines.
Point of View
But the more consequential signal is structural: South Korea is no longer content to be the world's memory-chip warehouse. The San Francisco AI Declaration is a deliberate rebranding — from commodity supplier to indispensable AI infrastructure partner. The $750 billion SK semiconductor pact and Naver's $10 billion AI factory push together suggest Seoul is betting that the AI boom's next constraint will be trusted, high-volume chip supply — and that it can own that chokepoint. The real test will be whether these figures represent binding offtake agreements or aspirational MoUs, a distinction that has historically separated South Korean industrial ambition from actual delivery.
NationPress
25 Jul 2026
Frequently Asked Questions
What are the $950 billion cooperation projects between South Korea and global tech firms?
They are a package of agreements reached in San Francisco on 25 July between South Korean conglomerates and global technology companies, including Nvidia and OpenAI. The deals cover a $750 billion semiconductor supply pact led by SK Group, joint AI data centre investments, and Naver's $10 billion AI factory initiative.
What is the SK Group semiconductor deal with Nvidia?
SK Group agreed to supply $750 billion worth of high-performance semiconductors to global technology firms, including Nvidia, under a long-term arrangement. This forms the single largest component of the $950 billion cooperation package announced in San Francisco.
What is the San Francisco AI Declaration by South Korea?
It is a national vision statement issued by President Lee Jae Myung during the San Francisco meeting, pledging to make South Korea an 'irreplaceable, core nation' in the global AI supply chain. The declaration frames South Korea's memory semiconductor strength as the foundation for becoming a trusted AI chip production base.
Who attended the high-level San Francisco technology meeting?
Samsung Electronics Chairman Lee Jae-yong and SK Group Chairman Chey Tae-won represented South Korea. OpenAI CEO Sam Altman and Nvidia CEO Jensen Huang were among the global technology leaders present at the meeting.
How does this deal fit into South Korea's broader semiconductor strategy?
It follows South Korea's announcement last month of three mega projects totalling over 4,000 trillion won ($2.73 trillion) in semiconductor production clusters, physical AI, and AI data centres. The San Francisco agreements accelerate Seoul's pivot from memory-chip exporter to end-to-end AI infrastructure partner.
