Lee Jae-myung's Presidential Visit to the United States – Leaders of Seven Major Groups Accompany as Economic Delegation
The leaders of Korea's seven major groups will accompany President Lee Jae-myung on his upcoming visit to the United States as part of an economic delegation.
According to political and business circles on the 15th, the heads of representative Korean companies such as Samsung, SK, Hyundai Motors, LG, Hanwha, HD Hyundai, and Korean Air are expected to join the meeting scheduled for the 24th to 26th for the South Korea-U.S. summit.
The economic delegation will include Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, Hyundai Motor Group Chairman Chung Eui-sun, LG Group Chairman Koo Kwang-mo, Hanwha Group Vice Chairman Kim Dong-kwan, HD Hyundai Vice Chairman Chung Ki-sun, and Hanjin Group Chairman Cho Won-tae.
This delegation is composed mainly of business leaders who can promise impressive investments in the United States, considering the relatively short duration of President Lee's stay in the U.S.
The Role of Major Companies in Strengthening South Korea-U.S. Economic Cooperation
The heads of the four major groups are expected to discuss important economic cooperation agendas during this visit.
Samsung Electronics and SK are projected to focus on expanding semiconductor factories in the U.S. and collaborating in the artificial intelligence (AI) semiconductor field.
Hyundai Motors and LG are anticipated to discuss the expansion of electric vehicle and battery production, as well as issues related to subsidies under the U.S. Inflation Reduction Act (IRA) to support the South Korea-U.S. summit.
Attention is also centered on the roles of Hanwha Group's Vice Chairman Kim Dong-kwan, who acquired a shipyard in the U.S.; HD Hyundai Heavy Industries' Vice Chairman Chung Ki-sun, who secured maintenance, repair, and overhaul (MRO) contracts with the U.S. Navy; and Korean Air's Chairman Cho Won-tae, who signed a $32.7 billion deal with Boeing and GE Aerospace.
Before his trip to the U.S., President Lee Jae-myung is expected to hold a 'Korea Sales Strategy Meeting' with the economic delegation to review the investment plans each company has prepared for the U.S.
Image source: Lee Jae-myung / Presidential Office, Lee Jae-yong, Chairman of Samsung Electronics, returns home through Incheon International Airport after finishing his business trip to the U.S. on the morning of the 15th / News1
