Samsung Electronics Vice Chairman Lee Jae-yong met with Intel CEO Patrick Gelsinger in Seoul on Monday and discussed cooperation in the chip sector.

According to Samsung on Monday, the leaders of the world's two largest chipmakers met in Samsung's building in southern Seoul to discuss collaboration in the areas of next-generation memory chips, fabless logic chips, foundries, PCs and mobile devices.

The Intel CEO reportedly explored ways to cooperate in those areas in a series of relay meetings with Lee and other Samsung executives.

The meeting comes just ten days after U.S. President Joe Biden and President Yoon Suk Yeol visited Samsung's chip plant in Pyeongtaek.

Samsung Electronics posted 82-point-three billion dollars in revenue last year and surpassed Intel to become the world's No. 1 chipmaker, retaking the spot after three years. Second-ranked Intel earned 79 billion dollars in revenue.