Samsung Electronics Executive Chairman Lee Jae-yong is leveraging the 2024 Paris Olympics to strengthen ties with global business leaders. According to Samsung, Lee has been staying in Paris since leaving Seoul on Wednesday, meeting top leaders from major international companies.
During his visit, Lee engaged with heads of firms such as Tesla, Coca-Cola, and YouTube to explore new business opportunities. This trip is a part of Samsung’s longstanding tradition of Olympic sponsorship, which began with the 1988 Seoul Olympic Games.
On Thursday, Lee participated in a luncheon hosted by French President Emmanuel Macron, where he interacted with leading business figures such as Tesla CEO Elon Musk, Coca-Cola CEO James Quincey, YouTube CEO Neal Mohan, and LVMH Chairman Bernard Arnault. The discussions focused on the global economic landscape, emerging technology trends, and advancements in corporate culture.
Later that day, Lee participated in a banquet co-hosted by International Olympic Committee (IOC) President Thomas Bach and Macron. The event was attended by world leaders such as King Felipe VI of Spain, King Willem-Alexander of the Netherlands, and King Frederik X of Denmark. This gathering provided an additional platform for Lee to strengthen Samsung’s international relationships.
During his stay in Paris, Lee is scheduled to meet with several global business leaders, including Peter Wennink, former CEO of ASML. These meetings will focus on strategies for business cooperation, particularly in the semiconductor, IT, and automotive industries. This marks Lee’s first attendance at the Olympics in 12 years, following his visit to the 2012 London Games.
Samsung officials have highlighted that these engagements are crucial for enhancing strategic partnerships and long-term growth. The Paris Olympics serves as a unique venue for business leaders to explore new markets, expand collaborations, and refine their strategies. CEOs from around the world are converging in Paris to support athletes and network and negotiate business deals.
Chairman Lee’s visit to Paris aligns with his strategy to broaden Samsung’s business network through major sporting events.Â
Samsung’s partnership with the Olympics began as a regional sponsor for the 1988 Seoul Games. The company elevated its involvement in 1997 by signing a global sponsorship contract with the IOC and becoming an Olympic Partner, the highest level of partnership. Samsung has been the official wireless communications provider since the 1998 Nagano Winter Games.
Samsung’s longstanding Olympic sponsorship, started by former Chairman Lee Kun-hee, has enhanced the company’s brand value significantly, with its brand value rising 30-fold to $91.4 billion since joining the Olympic Partners program.
Samsung is utilizing the Paris Olympics to promote its latest mobile devices, including the Galaxy S24 Ultra and Galaxy Z Flip 6. The company has equipped boats and yachts with Galaxy S24 Ultra phones for live streaming of the Games and provided over 17,000 Galaxy Z Flip 6 phones to athletes.Â
For the first time, the Victory Selfie program allows athletes to document their podium moments, with Samsung integrating its technology with the Olympic experience.
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