As President Donald Trump's tariff bomb targeting the world becomes a reality, a private economic delegation composed of major domestic corporations will embark on economic diplomacy with the United States.
The Korea Chamber of Commerce and Industry noted on the 16th that it will begin 'outreach activities' regarding trade with the United States from the 19th to the 20th (local time) in Washington, D.C.
The economic delegation will include representatives from key industries in U.S.-Korea economic cooperation, focusing on the automobile and semiconductor industries, as well as steel, shipbuilding, energy, and platform sectors.
The delegation includes Chey Tae-won, Chairman of SK Group, Jo Hyun-sung, Vice Chairman of HS HYOSUNG, Kim Won-kyung, President of Samsung Electronics, Yoo Jung-jun, Vice Chairman of SK On, Lee Hyung-hee, Chairperson of SK Supex Communication, Seong Kim, President of Hyundai Motor, Yoon Chang-ryul, Head of LG Global Strategy Development, Lee Gye-in, President of POSCO INTERNATIONAL, Lim Seong-bok, Deputy Minister of LOTTE Corporation, Joo Young-jun, President of Hanwha Future Plus, Lee Na-ri, Chairperson of Kakao Brand Communication, Kim Min-kyu, Vice President of Shinsegae, Koo Dong-hwi, President of LS M&M, Scott Park, Vice Chairman of Doosan Bobcat, Chae Sun-joo, representative of NAVER's external and ESG policies, Heo Jin-soo, President of SPC, Lee Moon-hee, Deputy Minister of Korea Gas Corporation, Hwang Joo-ho, President of Korea Hydro & Nuclear Power, James Kim, Chairman of the American Chamber of Commerce in Korea, and Park Il-jun, Vice Chairman of KORCHAM, among 26 individuals.
The economic delegation plans to meet with senior White House officials and key congressional members to discuss tariffs and trade policies, and introduce an execution plan for strategic cooperation agendas and investments between the two countries.
KORCHAM is expected to emphasize that 'Korea is a model country for U.S. investment and an excellent corporation that actively implemented former President Trump's 'Buy America' promise' and noted, 'During the second Trump administration, Korean corporations will prove to be a reliable partner for the United States.'
In reality, Korea has invested $160 billion in sectors such as automobiles, semiconductors, and batteries since 2017. Moreover, during President Trump's visit to Korea eight years ago, a purchasing plan worth $57.5 billion was promised, and $90.8 billion worth was purchased, reaching 160% of the committed amount during the same period.
On the 19th, the 'Korea-U.S. Business Night' gala dinner will be held at the Great Hall of the Thomas Jefferson Building at the Library of Congress in Washington. About 150 people, including the economic delegation, U.S. senators and representatives, governors, and key cabinet officials will attend.
On the 20th, discussions will take place with senior officials from the White House and economic ministries. During this meeting, economic and industrial policies to be pursued during the second Trump administration will be discussed, and plans for Korean corporations' investments in the U.S. will be presented.
KORCHAM stated, 'Specifically, we plan to discuss the expansion of imports of U.S. energy, cooperation in shipbuilding, investment in manufacturing facilities for complete cars and parts, collaboration on the development of next-generation nuclear power plants in the U.S., cooperation on small modular reactors (SMRs), and joint research and development for building semiconductor supply chains.'
Park Il-jun, Vice Chairman of KORCHAM, said, 'Amid fierce diplomatic efforts by various countries to escape the tariff bomb instigated by Trump, this outreach activity to the United States is an important opportunity to create a favorable investment environment for our corporations.'