World-leading U.S. chipmaker Nvidia will sign large-scale semiconductor supply contracts with major South Korean businesses as the nation hosts the Asia-Pacific Economic Cooperation(APEC) summit in Gyeongju.

Bloomberg reported on Wednesday that Nvidia will ink deals with companies including Samsung Electronics, SK, Hyundai Motor Group and Naver and will announce the agreements on Friday.

Nvidia CEO Jensen Huang, who is visiting the country to attend the APEC gathering, is expected to discuss the matter over dinner on Thursday when he meets Samsung Electronics Chairman Lee Jae-yong and Hyundai Motor Group Executive Chair Chung Eui-sun.

It is possible that SK Group Chairman Chey Tae-won could also join the meeting.

Bloomberg reported that the expected deals reflect the Nvidia chief's resolve to bolster the firm's partnership with South Korea as the nation seeks to become a major global AI hub.

Nvidia, which has close ties with South Korean businesses, aims to expand its market presence amid the Sino-U.S. trade conflict.