Seoul: The head of Indian conglomerate Reliance Industries plans to visit South Korea next week to discuss cooperation in network and artificial intelligence (AI) industries with Samsung Electronics Chairman Lee Jae-yong, sources said Wednesday.
According to Yonhap News Agency, Mukesh Ambani, chairman of Reliance Industries, is scheduled for a two-day visit to South Korea beginning on Tuesday. The meeting with Lee aims to explore collaborative opportunities across multiple sectors.
Reliance Industries, a significant player in the Indian market, has a diverse business portfolio that spans petrochemicals, steel, telecommunications, retail, and finance. Jio Platforms, which serves as the telecom arm of Reliance Industries, has a user base of 500 million. Samsung Electronics has previously supplied equipment for Jio's fourth-generation network.
Industry observers suggest that the discussions between Ambani and Lee might include potential collaboration on the fifth-generation network. Ambani is recognized as the wealthiest business tycoon in India, with assets estimated at US$116 billion.
In a nod to their ongoing relationship, Lee attended the wedding ceremony of Ambani's youngest son in India in July last year.