President Moon discusses key issues with major conglomerate chiefs

The Korea Times

The Korea Times

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Mon, October 2, 2023 | 10:16

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President Moon discusses key issues with major conglomerate chiefs

Posted : 2021-12-27 18:55

Updated : 2021-12-28 07:13

President Moon Jae-in speaks at a luncheon with major conglomerate heads at Cheong Wa Dae, Monday. From left, Samsung Electronics Vice Chairman Lee Jae-yong, Moon, Hyundai Motor Group Chairman Chung Euisun and KT CEO Ku Hyun-mo. Korea Times photo by Wang Tae-seog

By Kim Hyun-bin

President Moon Jae-in invited the heads of six major conglomerates to Cheong Wa Dae for lunch, Monday, and exchanged opinions on issues such as 6G communication technology, electric vehicles, vaccines, OLED TVs, and hydrogen-reduced steel.

President Moon also thanked the corporate chiefs for their contributions to the local economy.

Samsung Electronics Vice Chairman Lee Jae-yong emphasized the importance of building infrastructure for 6G networks, the next-generation of mobile communication technology, and nurturing workers in the semiconductor industry.

When asked about 6G-related research and development, Lee was quoted by presidential spokeswoman Park Kyung-mee as saying, "Telecommunication is an important infrastructure that is similar to vaccines and it can be utilized after establishing infrastructure through preemptive investments. Our company is preparing for the 6G era."

The Samsung chief added, "The semiconductor industry is filled with uncertainties, with new technologies continuing to emerge requiring us to work harder to keep up."

Moon also expressed hope that Samsung and Hyundai boost cooperation in the area of automotive semiconductors.

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That subject came up when the President was lauding Hyundai Motor Group Chairman Chung Euisun for his company's success in electric vehicle development and production, especially in the European and the U.S. markets.

"Congratulations to Hyundai Motor Company's EV Car of the Year award in Europe," Moon said.

"People in Korea have bought a lot of EVs, which contributed to the surge in popularity and sales abroad, especially in Europe and the United States," Chairman Chung responded.

SK Group Chairman Chey Tae-won had a conversation with Moon on the topic of vaccines.

"The Novavax produced by SK Bioscience is a synthetic antigen method similar to a flu vaccine, and it can be released and supplied stably in Korea as soon as it is approved by the Ministry of Food and Drug Safety," Chey told Moon.

"NovaVax can be distributed without a cold chain and has many advantages due to its long storage period," Moon said, praising the advantages of the drug that he had been briefed about.

Moon congratulated LG Chairman Koo Kwang-mo on the success of the conglomerate's TV and display businesses.

"I heard that LG's OLED TV and display businesses are booming," Moon said.

"There were difficulties, but performance improved as TV purchases increased during the coronavirus pandemic," Koo said.

The LG chief also expressed his gratitude.

"It is important to diversify import sources of lithium and cobalt (used for battery manufacturing) and it was very helpful for the government to open a channel for stable supply through an MOU with Australia for key minerals," Koo said.

hyunbin@koreatimes.co.kr