51 biz leaders to tag along with Park

By Kim Tae-jong

The largest-scale economic delegation ever will accompany President Park Geun-hye during her visit to the United States, a local business group said Friday.

Park will head to the nation’s most powerful ally Sunday for talks with President Barack Obama, in their first face-to-face meeting since Park took office in February.

According to the Federation of Korean Industries (FKI), Friday, a 51-member economic delegation, the largest in the country's history, will accompany her during her six-day trip.

The delegation includes heads of five major business lobby groups, including FKI Chairman Huh Chang-soo, Korea Chamber of Commerce and Industry Chairman Sohn Kyung-shik and owners of major conglomerates including Samsung Electronics Chairman Lee Kun-hee, Hyundai Motor Group Chung Mong-koo, LG Group Chairman Koo Bon-moo, Lotte Group Chairman Shin Dong-bin and POSCO Chairman Chung Joon-yang.

The delegation is widely expected to focus on strengthening economic ties between the countries, especially amid escalating tension on the Korean Peninsula after North Korea’s recent threats.

"It is the largest-scale ever, also including big names,” an FKI official said. “The visit aims at wipe out growing concerns over the country’s economy which has recently been affected by provocations by North Korea.”

Other business and financial group heads joining the president’s entourage include Korea Medium Industries Association Chairman Kang Ho-gap, Korea Federation of Banks Chairman Bahk Byong-won, Hana Financial Group Chairman Kim Jung-tae and Korea Venture Business Association Chairman Nam Min-woo.

The delegation will join an official dinner commemorating the 60th anniversary of the alliance between Seoul and Washington and a roundtable meeting of CEOs from the two countries.

Park will attend the roundtable meeting to explain her administration’s economic policies and listen to suggestions from participants.