Businesses in South Korea and the United States have signed 950 billion dollars in deals to cooperate in chip production and supply over the next five years. South Korea's presidential office made the announcement after President Lee Jae Myung arrived in San Francisco on Friday and met separately with the chiefs of US firms including OpenAI, Anthropic and Nvidia. Lee outlined his country's vision for artificial intelligence at an AI summit he hosted, which brought together top leaders of US and South Korean firms, including Samsung Electronics and SK Hynix. Lee said South Korea would become a trustworthy AI chip production base and supply chain partner based on the world's highest competitiveness and production capacity in memory chips. Last month, Lee announced a government plan to invest 800 trillion won, or over 547 billion dollars, to build chip manufacturing hubs in southwestern South Korea.