Samsung, SoftBank Set to Discuss Potential Chip-Design Alliance

SEOUL—Samsung de facto chief Lee Jae-yong and SoftBank Group Chief Executive Masayoshi Son are set to meet in Seoul next month to discuss a potential partnership involving chip designer Arm Ltd., in what could become a powerhouse union between two of the world’s semiconductor giants.

Mr. Son said Thursday that he would visit South Korea to meet with Samsung Electronics Co. about a strategic alliance with Arm, which is owned by SoftBank, the Japanese conglomerate. That confirmed similar remarks of a visit by Mr. Son from the prior day by Mr. Lee, whose signoff is required for any major move made by the South Korean conglomerate.