Beer diplomacy: Lee raises a glass with AI titans

SAN FRANCISCO — President Lee Jae Myung and some of the world's top technology executives traded jokes and optimism about Korea's economy during a casual "burger and beer" dinner in San Francisco on Friday.

While Nvidia CEO Jensen Huang asked about Korea's surging stock market, President Lee replied, "It has come down slightly."

Huang, however, showed optimism that it will recover. 

The conversation took place during an casual dinner between Lee and global Big Tech chief executives in San Francisco on Friday.

Huang also asked Lee about the growth of Korea's GDP. 

“Last year, it was 1 percent, but this year we’re expecting probably upwards of 3 percent," Lee said.

“It declined in the second half of last year before recovering."

Then President Lee pointed to Samsung Electronics Chairman Lee Jae-yong and SK Group Chairman Chey Tae-won, who were seated on either side of him.

"These two are really giving Korea's GDP a huge boost,” Lee remarked.

The dinner was held at an American-style restaurant on San Francisco's waterfront, where burgers, fish and chips and fried calamari were served alongside Budweiser beer. The guests toasted together by saying, "We are family” after President Lee explained a Korean term, sikgu.

“In Korea, when you say family, we use the term sikgu, which means the people you eat your meals with," Lee said to Huang. 

President Lee also spoke about Korea's economic outlook.

"Thanks to AI, I expect growth to exceed the country's potential growth rate and reach the mid-to-high 3 percent range this year,” Lee said.

"Inflation is around 3 percent, but as AI semiconductor prices rise, nominal GDP growth is reaching around 17 percent,” the president added. “This is the first time we've seen in 40 years."

After hearing the remark, Samsung Electronics Chairman Lee Jae-yong looked toward Huang and said, "Thanks to you."

Huang jokingly asked whether he could order another bottle of beer for that. 

The lighthearted atmosphere continued earlier at the AI Summit held live music venue The Midway, where participants mixed humor with serious discussions about the future of AI.

Immediately after President Lee delivered his “San Francisco AI Declaration” speech, Huang was the first speaker to take the stage. When his microphone failed to work, he joked, "The lights have to be on," drawing laughter from the audience.

The remark echoed an exchange between Huang and U.S. President Donald Trump at an AI summit in Washington in July last year. Trump had asked Huang if he could save a little electricity, saying, "My father always used to say, 'Turn off the lights, son.' But you guys are turning up the lights.” Huang replied by underscoring the importance of energy to the semiconductor industry.

Huang also spoke about Nvidia's longstanding ties with Korea for over 25 years, including Korea's PC bang industry. PC bang refers to an internet gaming cafe. 

“From AI chips and physical AI to AI infrastructure, Korea has achieved remarkable results under your leadership over the past year,” Huang said. “This is truly the beginning of a golden age for Korea.”

The summit also drew attention because OpenAI CEO Sam Altman and Anthropic CEO Dario Amodei, widely regarded as rivals in the AI industry, appeared together.

Anthropic was founded in 2021 by Amodei, his sister and other former OpenAI researchers after they left the company. Unlike OpenAI, which emphasizes openness in AI development, Anthropic places greater emphasis on AI safety.

A photograph taken at the AI Action Summit in New Delhi in February attracted global attention because Altman and Amodei were the only participants who did not hold hands during the group photo.

Even so, the two executives expressed the same view on Korea's role in the AI industry.

“I think this is a superpower to put in the hands of people,” Altman said. “This is like a genie that can grant any wishes for people.”

He added Korea's three mega projects involving large-scale regional investments in semiconductors, physical AI and AI data centers will benefit the Korean people, but they'll also help AI make its next leap forward.

"Four years ago, AI could barely write a single line of code, and back to six years ago, AI could barely carry out a coherent conversation,” Amodei said. “Now [at] a majority of technology companies, AI writes a majority of code.”

He added Korea has shown great “foresight” by adopting AI so quickly.

BY OH HYUN-SEOK [[email protected]]