Semiconductors, Shipbuilding, and Nuclear Power Gathered... 15-Member Economic Delegation for ROK-US Summit Outlined

Includes Top Executives of Major Corporations and Heads of Business Associations... Focusing on Strengthening Local US Operations

Minister of Industry Kim Jeong-gwan Leads Advance Team to the US... Coordinating Key Agenda Items in Advance

A 15-member economic delegation, including the heads of leading domestic companies, will accompany President Lee Jae-myung on his first ROK-US summit with US President Donald Trump.

They plan to support the strengthening of the bilateral alliance through all-encompassing economic cooperation, ranging from shipbuilding—symbolized by the MASGA (Making America Shipbuilding Great Again) project—to semiconductors and nuclear power.

President Lee Jae-myung, Business Leader Meeting for US-Japan Tour (Seoul=Yonhap News) President Lee Jae-myung is holding a meeting with business leaders for his US-Japan tour at the presidential office in Yongsan, Seoul, on the 19th.

From the right: Park Jeong-won, Vice Chairman of Doosan Group and Chairman of Doosan Enerbility; Koo Kwang-mo, Chairman of LG Group; President Lee; Lee Jae-yong, Chairman of Samsung Electronics; and Chang Jae-hoon, Vice Chairman of Hyundai Motor. August 19, 2025. [Provided by the Presidential Office. Resale and DB prohibited] photo@yna.co.kr

According to the business community on the 21st, the economic delegation for the ROK-US summit in Washington D.C. on the 25th (local time) includes key figures such as Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry; Ryu Jin, Chairman of the Federation of Korean Industries; as well as corporate leaders like Lee Jae-yong of Samsung Electronics, Euisun Chung of Hyundai Motor Group, and Koo Kwang-mo of LG Group.

Cho Won-tae, Chairman of Hanjin Group; Kim Dong-kwan, Vice Chairman of Hanwha Group; Park Jeong-won, Chairman of Doosan Enerbility; and Seo Jung-jin, Chairman of Celltrion Group will also accompany the President. They previously attended a meeting for the US-Japan tour delegation held at the presidential office in Yongsan, Seoul, on the 19th.

It was reported that Euisun Chung, Chairman of Hyundai Motor Group, who sent Vice Chairman Chang Jae-hoon in his stead due to a scheduling conflict, will join the delegation directly from overseas.

In addition, Lee Jay-hyun, Chairman of CJ Group, has decided to join, and Lotte Group is also set to participate, though it remains unconfirmed whether Chairman Shin Dong-bin will attend in person.

Huh Tae-soo, Chairman of GS Group; Chung Ki-sun, Vice Chairman of HD Hyundai; Choi Yoon-beom, Chairman of Korea Zinc; and Choi Soo-yeon, CEO of Naver, have also been included in the delegation.

All of these individuals lead companies that represent key domestic industries and are currently strengthening their operations within the United States.

President Lee Jae-myung, Business Leader Meeting for US-Japan Tour (Seoul=Yonhap News) President Lee Jae-myung is listening to comments from attendees during the meeting with business leaders for his US-Japan tour at the presidential office in Yongsan, Seoul, on the 19th.

From the right: Kim Dong-kwan, Vice Chairman of Hanwha Group; Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry/SK Group; Ryu Jin, Chairman of the Federation of Korean Industries; Cho Won-tae, Chairman of Hanjin Group; and Seo Jung-jin, Chairman of Celltrion. August 19, 2025. [Provided by the Presidential Office. Resale and DB prohibited] photo@yna.co.kr

Chairman Lee Jae-yong has recently secured major supply contracts with Tesla and Apple around the time of his US visit.

Given this, it is highly likely that he will announce plans to expand the Taylor plant in Texas during the ROK-US summit.

SK Group, led by Chairman Choi Tae-won, is preparing to construct a semiconductor back-end processing plant for next-generation HBM production in West Lafayette, Indiana, through its core subsidiary, SK Hynix.

In March, Chairman Euisun Chung announced a plan to invest a total of $21 billion (29 trillion KRW) by 2028 in the US automotive, parts, logistics, steel, and future industry sectors.

Under Chairman Koo Kwang-mo, LG Energy Solution is building standalone plants in Lansing, Michigan, and Arizona, in addition to existing facilities, as well as joint venture plants with Hyundai Motor and Honda in Georgia and Ohio, respectively.

Vice Chairman Kim Dong-kwan and Vice Chairman Chung Ki-sun are key figures in the MASGA project, which played a decisive role in recent ROK-US trade negotiations. They are expected to present concrete plans and express their commitment to the project's seamless implementation.

In particular, as President Lee Jae-myung is scheduled to visit the Hanwha Philly Shipyard in Philadelphia during his US trip, it is expected that Vice Chairman Kim Dong-kwan will accompany him on-site.

Vice Chairman Chung Ki-sun is also expected to hold discussions to accelerate cooperation with US defense firm Anduril and shipbuilding firm Edison Chouest Offshore, with whom he has previously established partnerships.

It is observed that GS Group Chairman Huh Tae-soo will engage in activities related to US liquefied natural gas (LNG) projects and energy business.

GS Caltex and GS EPS have been purchasing US crude oil and LNG and are reportedly considering additional purchases of US LNG in the future.

Furthermore, GS Corp., GS Energy, GS EPS, GS E&C, and GS Retail have invested in collective funds and the New Jersey LNG combined-cycle power plant in partnership with US venture firms, and new investments in the US power and energy storage system (ESS) market are also anticipated.

Chairman Cho Won-tae is strengthening aerospace cooperation, as evidenced by Korean Air's 48 trillion KRW contract to purchase aircraft and engines from Boeing. Chairman Park Jeong-won is expected to discuss ROK-US cooperation regarding Doosan Enerbility's Small Modular Reactors (SMRs), while Chairman Seo Jung-jin is expected to present follow-up measures regarding the acquisition of a local biotech production facility.

Chairman Lee Jay-hyun's focus is on expansion plans for the US food and content business, while CEO Choi Soo-yeon is focused on artificial intelligence (AI) cooperation measures.

Chairman Choi Yoon-beom is likely to discuss expanding the export of strategic minerals in alignment with the US shift toward de-risking supply chains from China.

Meanwhile, ahead of their visit, Minister of Industry, Trade and Energy Kim Jeong-gwan and Trade Minister Yeo Han-koo, the key figures in ROK-US tariff negotiations, are departing for the US as an advance team.

While it is known that Minister Yeo already departed for the US yesterday to meet with officials such as Jamieson Greer of the Office of the United States Trade Representative (USTR), Minister Kim is heading to the US on the 21st.

Minister Kim is scheduled to meet with key figures such as US Secretary of Commerce Howard Lutnick and Secretary of Energy Chris Wright in Washington D.C. on the 22nd.

With industrial cooperation in shipbuilding, semiconductors, secondary batteries, and nuclear power expected to be major agenda items at the ROK-US summit, projections suggest that Minister Kim will coordinate relevant details in advance. Yonhap News