When questioned about automotive chips during a luncheon at the presidential residence of Cheong Wa Dae on Monday, South Korean President Moon Jae-in requested Samsung Electronics Vice Chairman Lee Jae-yong and Hyundai Motor Chairman Chung Euisun to "collaborate more closely."

"I wish for Samsung and Hyundai to collaborate more closely on automotive chips," President Moon expressed his gratitude to Hyundai Motor CEO Park Kyung-me, according to a spokesperson for the Cheong Wa Dae. "I wish for Samsung and Hyundai to collaborate more closely on automotive chips," President Moon stated.

"The CEOs of both Samsung and Hyundai did not express any special reaction to Moon's comments," according to an industry source with knowledge of the situation. The president's startling remark came amid mounting fears about automobile production being delayed as a result of a continuing chip supply crisis.

While some have expressed a desire for more collaboration in areas such as batteries and information and communication technology, South Korea's No. 1 and No. 2 firms have maintained a strategic distance from one another for years, as part of a disguised competition. Hyundai Motor's October global sales were down 20.7 percent year on year as a result of the chip shortfall and subsequent suspension of car deliveries.

Furthermore, Samsung's Lee assured Moon that the global technology giant is undertaking "internal preparations" for the deployment of 6G networks.

Communication and vaccination infrastructure are similar in that they both serve as critical infrastructure. Preventative investments must be made now in order to take advantage of them when we truly need them. "We are making internal preparations for 6G," Lee said to Moon.

In his remarks at the luncheon, which was attended by the heads of six companies — Samsung, Hyundai Motor, SK and LG, as well as Posco and KT — Moon expressed his gratitude to them for supporting the government-led job creation effort for young people.

"Six conglomerates have committed to creating around 180,000 jobs over the next three years, as well as supporting job training and the establishment of new enterprises. "I want to express my gratitude to these six firms once more for taking the initiative to generate jobs for the young," Moon added.

"It is ultimately the responsibility of business to generate decent employment, and the responsibility of government to offer as much assistance as possible," Moon continued.

In addition to Chey Tae-won, LG Chairman Koo Kwang-mo, Posco Chairman Choi Jeong-woo, and KT Chairman Ku Hyeon-mo, the event was attended by a number of other executives.

SK's Chey informed the president that the business is preparing to launch its first indigenous COVID-19 vaccine, while Posco's Choi displayed the steelmaker's research of hydrogen-based steel, which has the potential to reduce carbon emissions dramatically. Moreover, the LG CEO expressed his appreciation for the government's efforts to maintain a stable supply of lithium and cobalt, which are critical materials for battery production.

The meeting grabbed notice since it was the first time Moon and Lee had seen one other since the Samsung executive's release from prison in August. Lee, who was imprisoned from January to July, was unable to attend a presidential luncheon in June because he was spending time in prison.

As a result of Lee's exclusion from a presidential New Year's pardon issued on Christmas Eve, the sector is keenly monitoring if Moon would reward him with a late gift, such as eliminating his job limitations, in exchange for upholding his half of the agreement to be released from prison.

When Lee was granted parole in August, Moon made a speech in which he stated, "There are a lot of people who have great hopes for (Lee's) involvement in chips and vaccinations." Moon went on to say, "There are a lot of people who have high expectations for Lee's role in chips and vaccines."

The Korean people received Moderna vaccinations thanks to Samsung Biologics, which Lee invested $17 billion in as a response to Moon's threat to build a new chip facility in Texas.

'After his release, Lee worked really hard to live up to the expectations of the Korean people under challenging conditions,' a senior industry executive speculated. "Moon may have conveyed a particular message (to Lee) because of this," the official added.

The following day, Lee will go to China and Europe in order to complete the transformation of the IT behemoth into the "New Samsung." In the midst of rising tensions between Washington and Beijing, Lee may travel to China to urge employees and executives there. Another prospective destination for Lee is the Netherlands, where he may meet with ASML, a major semiconductor equipment manufacturer based in the country, to explore next-generation chip technology.

Some opponents, however, believe that Cheong Wa Dae's invitation to Lee and the meeting scheduled to address economic matters are improper. Some have even suggested that it is paradoxical that the government is forbidding Lee from holding a position at Samsung while also requesting that he generate jobs.

Lee has been placed on administrative leave following allegations that he bribed former President Park Geun-hye.