Home > Business > Industry

Four top conglomerate heads to attend Korea-U.S. summit

Published: 22 Aug. 2025, 16:04

President Lee Jae Myung meets with business leaders ahead of his trip to the United States and Japan at the presidential office in Yongsan District, central Seoul, on Aug. 19. From right are Park Gee-won, Doosan Group Vice Chairman and Doosan Enerbility Chairman; LG Group Chairman Koo Kwang-mo; President Lee Jae Myung; Samsung Electronics Executive Chairman Lee Jae-yong; and Hyundai Motor Group Vice Chairman Chang Jae-hoon. [YONHAP]

The chiefs of Korea’s four largest conglomerates — Samsung, SK, Hyundai and LG — will accompany President Lee Jae Myung to Washington on his trip to the United States from Sunday to Tuesday, underscoring the weight of economic ties at the upcoming Korea-U.S. summit.

Economic cooperation between Korea and the United States is expected to center on industries with active U.S. investments, such as semiconductors, batteries, shipbuilding and automobiles.

Samsung Electronics Executive Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, Hyundai Motor Group Executive Chair Euisun Chung and LG Group Chairman Koo Kwang-mo will join the delegation.

Hanwha Vice Chairman Kim Dong-kwan, HD Hyundai Executive Vice Chairman Chung Ki-sun, Hanjin Group Chairman Walter Cho and Doosan Enerbility Chairman Park Gee-won are also expected to take part.

Other business leaders, including Lotte Chairman Shin Dong-bin, GS Group Chairman Huh Tae-soo, LS Group Chairman Koo Ja-eun and Korea Zinc Chairman Choi Yun-beom, are reportedly considering joining.

“Based on the concluded tariff negotiations, the summit will discuss ways to strengthen economic cooperation in manufacturing sectors such as semiconductors, batteries and shipbuilding, and to bolster economic security partnerships in advanced technologies and critical minerals,” the presidential office said.

This year’s business delegation is expected to be a smaller, more focused group of companies capable of concrete U.S. investment and cooperation. By contrast, during former President Yoon Suk Yeol’s first state visit to Washington in April 2023, about 122 companies, ranging from conglomerates to small- and medium-sized enterprises and business associations, joined a large-scale delegation.

Then-acting President and Prime Minister Han Duck-soo presides over a meeting of the Economic Security Strategy Task Force at the prime minister’s residence in Samcheong-dong, central Seoul, on April 1. From left, Hyundai Motor Group Executive Chair Euisun Chung, SK Group Chairman Chey Tae-won, Samsung Electronics Executive Chairman Lee Jae-yong and LG Group Chairman Koo Kwang-mo listen to remarks. [YONHAP]

Samsung Electronics recently signed foundry supply deals with Tesla and Apple. Lee Jae-yong, who traveled to the United States late last month to support tariff negotiations and hold business meetings, is expected to review investment plans afterward.

SK hynix is preparing to build an advanced packaging plant in Indiana. Euisun Chung announced in March that Hyundai would invest $21 billion in the United States by 2028. LG Energy Solution currently operates North American production sites in Michigan, Ohio and Tennessee.

Kim and Chung Ki-sun are expected to discuss U.S.-Korea cooperation in shipbuilding as part of the MASGA (Make American Shipbuilding Great Again) project, which played a decisive role in securing the tariff agreement. Park is expected to participate to discuss cooperation in energy and nuclear power.

The delegation will be organized by the Federation of Korean Industries, which has steadily been regaining its standing since being sidelined from major government events since the Moon Jae-in administration in the wake of the 2016 influence-peddling scandal involving Moon’s predecessor, Park Geun-hye.

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY CHOI SUN-EUL [[email protected]]