Ahead of the inauguration of Donald Trump's second administration in the United States, domestic retail executives will attend the ceremony.
According to business circles on the 8th, Chung Yong-jin, chairman of the Shinsegae Group, and Huh Young-in, chairman of the SPC Group, will attend the inauguration ceremony of President-elect Donald Trump, which will be held on the 20th (local time) in Washington, D.C.
In particular, Chairman Chung is reported to be the only Korean business figure invited to both the inauguration ceremony and the gala ball.
Chairman Chung stayed at Mar-a-Lago resort in Palm Beach, Florida, at the invitation of Donald Trump Jr., President-elect Trump's eldest son, from the 16th to the 21st of last month, and had a conversation with the President-elect.
Trump Jr. has emerged as a 'kingmaker' who boosted Trump’s re-election campaign in this election and is regarded as a significant figure behind the scenes of Trump's second administration.
A devout Protestant, Chairman Chung has reportedly maintained a close friendship with the Trump family, which is based on evangelical conservative Christianity, for about five years in both Korea and the U.S.
After returning to Korea, Chairman Chung met with reporters at Incheon Airport and responded to questions about the inauguration invitation, saying, “I have not received any special communication regarding the inauguration,” but noted, “If I receive a participation request as soon as the government delegation is formed, I am willing to respond positively.”
The Shinsegae Group operates retail and manufacturing businesses in the U.S. It established the holding company PK Retail Holdings (PKRH) for its Emart U.S. subsidiary in 2018 and fully acquired the equity of Good Food Holdings, which operates supermarket chains locally. In the following year, it fully acquired equity in New Seasons Market. Currently, it operates 55 stores across five brands.
Additionally, the Oregon plant produces 2 million packs of frozen and refrigerated processed foods annually for delivery to Trader Joe's, Costco, and Kroger in the U.S.
Chairman Huh Young-in will also attend the inauguration at the invitation of President-elect Trump. This invitation was made at the recommendation of the ROK-US Alliance Friendship Association, which has actively engaged in Korea-U.S. economic cooperation activities. Chairman Huh and President-elect Trump met during a 'meeting with Korean business leaders' when President Trump visited Korea in 2019.
Paris Baguette, operated by the SPC Group, entered the U.S. market in 2005 and currently operates about 200 stores. Recently, it announced plans to build a local bakery factory in Burleson, Texas, with an investment scale of $160 million. The subsidiary SPC Samlip exports K-food, including steamed buns, cream bread, and yakgwa, to the U.S.
The SPC Group has been recognized for successfully introducing popular American dining brands, such as Baskin-Robbins, Dunkin', and Shake Shack, to Korea. After the inauguration, Chairman Huh plans to strengthen his network by meeting with U.S. Congress members interested in the Korean economy.
Shin Dong-bin, chairman of Lotte Group, is in a situation where the decision regarding his attendance at the inauguration ceremony has not been made. He is referred to as the 'most contacted executive' having met President-elect Trump twice.