China urges Samsung investment amid geopolitical shifts

China’s second-highest-ranking official urged Samsung to invest. The country is facing investment concerns from Global tech giants due to geopolitical tensions. Sanctions imposed by the United States are also capping firms for balanced investment in China.

Xinhua reported that Li Qiang urged Samsung Chairman Jay Y. Lee for further investment. The South Korean tech giant invested $24 billion in the past six years in China.

Reuters notes that foreign businesses in the Chinese market struggle to navigate geopolitical uncertainties. Li stated it in a meeting in Seoul between China’s second highest-ranking official and the Korean executive.

China’s Li, Korean President Yoon Suk Yeol, and Japanese PM Fumio Kishida will soon meet at a summit. However, the US sanctions put Samsung under growing challenges to further invest in China.

As the US has also rolled out to cut off China’s access to cutting-edge chips, industry leaders aren’t seeing growth potential there. However, the Chinese govt is putting efforts into winning investments from key players for a sustained economy.