November 25, 2024

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Samsung Electronics Chairman Lee Jae-yong (center) is spotted watching the men's fencing sabre competition during the Paris 2024 Olympic Games at the Grand Palais in Paris on Saturday. (Yonhap)

Samsung Electronics Chairman Lee Jae-yong has embarked on a business trip to Paris to leverage the 2024 Paris Olympics to strengthen ties with key global business partners, political figures and sports leaders, the company said Sunday.

Since arriving in Paris last Wednesday, Chairman Lee has engaged in a series of high-level business meetings. This marks his first attendance at the Olympics since the 2012 London Games. His agenda includes discussions with leaders from the semiconductor, IT and automotive sectors, such as Peter Wennink, former CEO of ASML, to address strategic business issues and cooperation plans.

These meetings are expected to enhance strategic partnerships, paving the way for mid- to long-term growth for Samsung and its partners. The Olympics provide a unique opportunity for business leaders to explore new markets, expand customer collaborations and refine business strategies. CEOs from around the world are converging in Paris to not only support athletes but to network and negotiate business deals.

At a global business luncheon hosted by French President Emmanuel Macron at the Elysee Palace on Thursday, Chairman Lee exchanged insights on the global economic outlook, future technology trends and organizational culture innovation with over 40 business leaders. Notable attendees included Tesla CEO Elon Musk, Coca-Cola CEO James Quincey, YouTube CEO Neal Mohan, Eli Lilly CEO Dave Ricks and LVMH Chairman Bernard Arnault.

In addition, Chairman Lee and Hong Ra-hee, former director of Leeum, the Samsung Museum of Art, attended the opening night dinner of the Paris Olympic Games. This event, co-hosted by International Olympic Committee President Thomas Bach and President Macron at the Louvre Museum, saw participation from about 100 IOC members and international dignitaries. The guests included King Felipe VI of Spain, King Willem-Alexander of the Netherlands, Crown Prince Frederik of Denmark, and Prince Albert II of Monaco.

Samsung's longstanding association with the Olympic Games, initiated by former Chairman Lee Kun-hee, spans over four decades, with the company beginning as a local sponsor of the 1988 Seoul Games. It became a global sponsor in 1997 under The Olympic Partner program, and has officially sponsored wireless communications since the 1998 Nagano Winter Games. Today, Samsung is the only Korean company among the IOC's top-tier sponsors.

By Moon Joon-hyun (mjh@heraldcorp.com)