April 25, 2024

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[THE INVESTOR] Samsung Electronics will sign an initial agreement with China’s top economic planning body, Korea’s finance minister said on Jan. 29.

Finance Minister Kim Dong-yeon said Samsung Electronics is set to sign a memorandum of understanding with China’s National Development and Reform Commission.

Kim said the MOU covers research and development, investment and other sectors, though he declined to elaborate.

The policymaker said he will discuss the issue with his Chinese counterpart, He Lifeng, chairman of China‘s National Development and Reform Commission, during talks later this week.

The minister made the comments in two separate meetings with business executives and government officials earlier in the day.

Samsung Electronics said it had no immediate comments on its planned MOU with the Chinese commission.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)