Samsung Electronics and SK Hynix are preparing to unveil major supply agreements with American technology companies during President Lee Jae Myung's visit to Silicon Valley. Chief Presidential Secretary for Policy Kim Yong-beom told reporters on Thursday, July 23, that the agreements would likely include new long-term memory chip supply deals, strategic investment partnerships, and memorandums of understanding, according to Bloomberg. Kim said the deals build on an investment plan Seoul revealed last month, worth at least $880 billion and backed by Samsung, SK Group, and Naver. The listing gave American investors direct access to the world's leading producer of high-bandwidth memory chips for the first time. Related: After beating Samsung, tech titan files for IPOBefore July, buying SK Hynix meant trading on the Korea Exchange during Seoul hours.