Bom Kim, the founder of Coupang, will attend the inauguration of President Donald Trump in Washington, D.C., on the 20th (local time). Kim is expected to participate in Trump’s inauguration ceremony, dinner, and ball to discuss Korea-U.S. economic cooperation.
According to diplomatic and business circles in Washington on the 16th, Kim has received an official invitation to the inauguration from the Trump administration.
Kim did not attend the 'first inauguration' of President Trump in 2017. Notably, the U.S. executives of Coupang Inc., the parent company of Coupang, have also been invited to the inauguration and official events such as celebrations, where they will meet key figures in Washington.
Coupang has served as a bridge for Korea-U.S. economic cooperation based on its logistics investments. Since going public on the New York Stock Exchange (NYSE) in 2021, Coupang Inc. has expanded its domestic logistics network using large funds raised in the U.S.
In its first year of listing, Coupang invested approximately $1.2 billion (1.43 trillion won) in expanding its Korean logistics centers, followed by $700 million (871.6 billion won) last year, totaling around 2.3 trillion won.
Alex Wong, who was appointed as the Deputy National Security Advisor by President Trump, worked as the head of public affairs at Coupang Inc. in Washington, D.C., from August 2021 until recently.
In the U.S., speculation is rising that Kevin Warsh, a Coupang board member and former Federal Reserve Board (Fed) member, who has also been mentioned as a candidate for Secretary of the Treasury, could be appointed as the next Fed Chair after Deputy Advisor Wong.
As a result, there is growing anticipation about Coupang's potential role in Korea-U.S. economic cooperation.
Invited domestic business figures to this presidential inauguration include Chung Yong-jin, chairman of Shinsegae Group, Woo Oh-hyun, chairman of SM Group, Huh Young-in, chairman of SPC Group, and Ryu Jin, chairman of The Federation of Korean Industries and Poongsan Group.