Samsung Electronics' Vice Chairman Lee Jae-yong met with Patrick P Gelsinger, chief executive of chip-maker Intel in Seoul in order to address cooperation in the chip sector, Samsung officials mentioned.

At the meeting, the leaders of the world's two largest chipmakers explored ways to collaborate in areas ranging from the next-generation memory chips, fabless logic chips and foundries to PCs and mobile, according to Samsung.

Samsung and Intel have continued their partnership, working on the compatibility between Samsung's memory chip modules and Intel's processors, to develop the next generation of memory chip technologies.

The meeting also followed US President Joe Biden's recent visit to Samsung's chip plant in Pyeongtaek, south of Seoul, on the sidelines of his summit with President Yoon Suk-yeol.

Samsung Electronics outstripped Intel to become the world's No. 1 chipmaker by revenue last year, earning $82.3 billion compared with $79 billion posted by Intel, retaking the spot after three years.

Samsung Electronics is expected to hold a groundbreaking ceremony for a $17 billion chip fabrication plant in Taylor, Texas, next month.

The company said it expected the facility to be fully operational in the second half of 2024.

The tech giant announced in November it will build an advanced chip facility in Taylor to "help boost production of advanced logic semiconductor solutions that power next-generation innovations and technologies."

The new plant will "manufacture products based on advanced process technologies for application in areas such as mobile, 5G, high-performance computing, and artificial intelligence," the company said.

In a high-profile public event, US President Joe Biden visited Samsung's chip factory as his first stop on his inaugural trip to Asia since taking office last year.