President Yoon Suk-yeol Meets with Samsung's Lee Jae-yong Amid Investment Discussions

On July 24, President Yoon Suk-yeol is set to have a dinner meeting with Lee Jae-yong (이재용), the Chairman of Samsung Electronics. This follows recent meetings with other major corporate leaders, including Kim Dong-kwan (김동관), Vice Chairman of Hanwha, who dined with SK Chairman Chey Tae-won (최태원) on July 23. The discussions are expected to focus on current issues, particularly related to investments in the United States.

The South Korean government is preparing to propose a local investment plan exceeding $100 billion (approximately 137 trillion won) to the U.S. government as part of tariff negotiations. This initiative involves gathering available investment amounts from major domestic companies, including Samsung, SK, Hyundai, and LG, ahead of the negotiations.

While the proposed investment amount is less than Japan's, it is still significant given that Japan's economy is more than double that of South Korea. Additionally, since these figures represent pure investment plans from companies, the total could increase if government funding is included. The government is also considering establishing an investment fund similar to Japan's.

Last month, President Yoon held a meeting with the heads of the five largest conglomerates, including Samsung, SK, Hyundai, LG, and Lotte, where he discussed investment plans in the U.S., regional revitalization, and research and development (R&D) investments, urging companies to take an active role.

Bloomberg reported that the South Korean government is discussing the establishment of an investment fund in trade negotiations with the U.S. Domestic companies, including Hyundai Motor Group, have announced large-scale local investment plans in response to anticipated significant tariff increases under the second term of the Trump administration. In March, Hyundai's Chairman Euisun Chung (정의선) met with President Trump to announce a $21 billion investment plan, which includes expanding vehicle production in Georgia and building a new steel plant in Louisiana.