Dignitaries, including President Moon Jae-in, Deputy Prime Minister-Minister of Economy and Finance Hong Nam-ki, and Samsung Electronics Vice Chairman Lee Jay-yong pose as they attended a ceremony to sign a deal on new investments and shared growth at Samsung Electronics’ new worksite in Asan, Chungcheongnam-do, on Oct. 10. (Photo on the courtesy of Cheong Wa Dae website)

President Moon Jae-in met with Samsung Electronics Vice Chairman Lee Jay-yong at a ceremony to sign a deal on new investments. The event took place at Samsung Electronics’ new worksite in Asan, Chungcheongnam-do, on Oct. 10.

Vice Chairman disclosed a plan in front of President Moon to plunk down 13.1 trillion won into the development of a quantum dot display by 2025. The quantum dot display is a display device that uses quantum dots (QD), semiconductor nanocrystals which can produce pure monochromatic red, green, and blue light.

President Moon extended thanks to Vice Chairman Lee and President Lee Dong-hoon of Samsung Display for sharing the good news with people, referring to the name of Vice Chairman Lee. President Moon went as far as to say, “Our Samsung,” “Booting for Aggressive Challenges,” and “Congratulations on Innovative Efforts.”

President Moon said, “I extend praise and thanks for our company for a timely reading of the trends of the global market and leading changes.” Of late, he delivered a series of remarks to stress the significance of the private sector’s dynamics to make the national economy stronger, as he said at a cabinet meeting held on Oct. 8 it was more important to boost the private sector’s vigor to make the national economy more dynamic.

President Moon’s move may be construed as his attempt to attach more focus on overcoming the worsening of the global economy and divided public views over the appointing of Justice Minister Cho Kook. President Moon is considering touring an industrial site on future cars next week.

Entering this year, President Moon had never missed touring Korean conglomerates’ massive investment sites. President Moon’s latest tour to Samsung Display is the second since he visited semiconductor lines in Hwaseong, Gyeonggi-do, in April when Samsung Electronics announced a plan to pour 133 trillion won into a plan to become the world’s No. 1 system semiconductor player.

President Moon’s latest visit to Samsung Display was prompted by SMEs’ localizing display technologies, for which Korea had so far depended on Japanese imports on top of Samsung Display’s massive investment plan.

In his speech, President Moon cited Green Optics, credited for localizing core display equipment, an exemplary practice of securing self-sufficiency in core parts and equipment sectors and improving shared growth among large- and small-sized companies.

President Moon said he was thanking Samsung for leading the world. In response, Vice Chairman Lee said, “(Samsung) will devote itself in its corporate mission of creating new jobs and giving hope to youth by investing more than 13 trillion won only in the next-generation, core display segment.”

Some civic organizations said they were unhappy with President Moon’s frequent meeting with Samsung Electronics Vice Chairman Lee, who is facing a pending trial of graft with the former president Park Geun-hye government.

Reports said Cheong Wa Dae officials said trials are the judiciary branch’s responsibility, and encouraging companies to make more aggressive investments is the President’s responsibility.

They shared the view that the government needs to more closely cooperate with companies to raise dynamics amid uncertainties such as the worsening situation of the global economy, U.S.-Chinese trade conflicts and Japan’s export curbs on Korea.

President Moon had not met with Vice Chairman Lee, once imprisoned for anti-graft charges, for one year and two months since he took office as president.

But in the recent years, President Moon met with Lee for a ninth time in the latest tour to Samsung Display. President Moon had more meetings with Lee than former president Park, which had met with the latter on eight occasions for her presidential term.