Moon set to head for US summit with businesses
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President Moon Jae-in / Courtesy of DPK
By Park Hyong-ki
President Moon Jae-in is expected to head for a summit in the United States later this month with a group of corporate executives in tow, according to officials at Cheong Wa Dae and the Korean Chamber of Commerce and Industry (KCCI).
They will meet the U.S. business community along with President Donald Trump in an event following the summit. Some had suspected that Moon would not bring businesspeople to the U.S. unlike his predecessors.
Top of the agenda for the two heads of states will likely be the North Korean nuclear issue and the deployment of a U.S. anti-missile system.
However, the two sides are likely to touch on economic issues concerning trade and investment as Moon’s business delegates meet their counterparts in Washington.
Cheong Wa Dae and the KCCI could not confirm how many corporate executives will tag along with President Moon.
However, the presidential office asked the KCCI to draw up a list of participants to business gathering events, which will be held on the sidelines of the summit.
“We are currently working on the list and an itinerary,” a KCCI spokesperson said.
Some news reports suggested the President may travel with executives from mostly small- and medium-sized enterprises. As many as 30 executives could board the presidential aircraft.
Cheong Wa Dae is said to not have invited the Federation of Korean Industries (FKI) and the Korea Employers Federation (KEF), lobby groups for chaebol.
President Moon recently criticized the KEF for making the labor market situation worse with its lack of contribution to creating quality regular jobs.
Also, the FKI is embroiled in a political scandal involving ousted former President Park Geun-hye and her associate Choi Soon-sil.
Executives from a few notable conglomerates such as Samsung Electronics and LG Electronics may also be included in Moon’s business delegation. The tech giant’s made recent pledges to increase their U.S. investment amid Trump’s policy on trade protectionism.
Samsung Electronics is expected to invest about $300 million to expand its household appliance manufacturing plant in South Carolina by 2019. LG Electronics will also invest about $250 million to build an appliance plant in Tennessee by the same year as Samsung.
In 2003, former President Roh Moo-hyun traveled to the U.S. for his first summit with Samsung Chairman Lee Kun-hee, Hyundai Motor Chairman Chung Mong-koo and LG Chairman Koo Bon-moo.
Then, President Moon was Roh’s chief secretary for civil affairs, who later became the chief of staff.