Korean top biz leaders engage Trump Jr. to navigate trade uncertainties

Hanwha Life Insurance President Kim Dong-won, second from left, and Hanwha Galleria Vice President Kim Dong-seon, third from left, are seen at a cafe at the Josun Palace Hotel in Gangnam District, Seoul, Wednesday. Donald Trump Jr., the eldest son of U.S. President Donald Trump, stayed in the hotel and met with business leaders during his two-day visit to Seoul. Yonhap

Korea’s top business leaders lined up to meet Donald Trump Jr., the eldest son of U.S. President Donald Trump, in Seoul on Wednesday, seeking to navigate uncertainties stemming from the Trump administration’s volatile trade policies and explore ways to strengthen their U.S. business ties.

Trump arrived in Seoul on Tuesday evening for a two-day stay. His visit follows an invitation from Shinsegae Group Chairman Chung Yong-jin, who is known to have close ties with the younger Trump. He has no official position in the U.S. administration but is known as a key presence in Washington.

His arrival has drawn significant attention, as the meetings offer Korean firms exporting to the U.S. a rare opportunity to engage directly with someone closely connected to President Trump and potentially establish a reliable communication channel with Washington.

Donald Trump Jr., the eldest son of U.S. President Donald Trump, disembarks from a plane after landing at Gimpo International Airport in Seoul, Tuesday. Joint Press Corps

In the morning, Hanwha Group’s owner family — Hanwha Group Vice Chairman Kim Dong-kwan, Hanwha Life Insurance President Kim Dong-won and Hanwha Galleria Vice President Kim Dong-seon — visited the Josun Palace Hotel in southern Seoul, where Trump was staying.

The brothers reportedly had a 45-minute conversation with Trump. Details of the discussion remain unknown, while Kim Dong-won, who was seen at a nearby coffee shop, told reporters, “We’re just here to grab some coffee.”

Given Hanwha Group’s portfolio spanning defense, shipbuilding and energy, talks are presumed to have centered on potential cooperation in those sectors within the U.S.

Hanwha Group is proactively expanding its presence in the U.S. shipbuilding market following its acquisition of Philly Shipyard in December last year. The shipyard is stoking prospects for business cooperation between the two countries, as the Trump administration has expressed interest in partnerships with Korean shipbuilders.

Hanwha Group-owned Philly Shipyard in Philadelphia / Courtesy of Hanwha Group

The group is also building a solar power manufacturing complex, dubbed “Solar Hub,” in Georgia. The facility will produce ingots, wafers, cells and solar modules. The complex is expected to create 1 trillion won ($703 million) in additional benefits every year through various incentives from the U.S. government.

Naver founder Lee Hae-jin also had a meeting with Trump Jr.

According to industry officials, Lee and Trump held an hour-long conversation at the hotel. A Naver official said they “exchanged views on artificial intelligence (AI), technology and (Naver’s) global expansion” and “had a positive discussion on potential cooperation.”

Naver has been striving to make forays into overseas markets. In the U.S., the company has been trying to expand its presence by acquiring secondhand trading platform Poshmark and listing Webtoon Entertainment, the parent company of Naver Webtoon, on the Nasdaq market. More recently, it has been seeking a breakthrough in global expansion for its AI model, HyperCLOVA X.

Trump Jr. has also expressed interest in AI businesses. Before arriving in Seoul, he visited Bulgaria for AI and cryptocurrency investment talks, attending a forum hosted by Nexo Capital.

In February, Trump Jr. and his brother Eric invested in American Data Centers, which aims at “addressing the growing demand for high-performance computing infrastructure” to support AI, cloud computing and cryptocurrency mining.

In the afternoon, CJ Group Chairman Lee Jay-hyun and Lotte Group Vice President Shin Yoo-yeol also paid a visit to Trump Jr.

CJ CheilJedang, CJ Group's flagship unit, has invested 700 billion won to build an Asian food manufacturing facility in South Dakota. Chairman Lee reportedly raised the need to ease tariff barriers and regulations related to food exports.

Shin, the eldest son of Lotte Group Chairman Shin Dong-bin, is believed to have discussed the impact of U.S. tariffs on Lotte Group's food exports to the U.S., as well as the possibility of expanding Lotte Biologics' manufacturing capacity in the country.

Lotte Biologics, a biopharmaceutical contract manufacturer, is seeking to expand its presence in the U.S. based on its facility in New York.

Along with them, Korean Air Chairman Cho Won-tae and LS Group Chairman Koo Ja-eun also met with Trump Jr. in search of business opportunities in the U.S.

KB Financial Group Chairman Yang Jong-hee also met with Trump during his visit. A group official said it seems Chung introduced Yang to Trump Jr. as a leading figure in the finance sector, and they talked about cooperation between the two nations' finance sectors.

Meanwhile, the heads of Korea's top four conglomerates — Samsung, SK, Hyundai Motor and LG — did not meet with Trump Jr.

"It seems the leaders of the top four conglomerates chose not to meet Trump Jr. through unofficial channels, given that he does not hold an official position in the Trump administration and Korea’s tariff negotiations with the U.S. are still ongoing," a conglomerate official said.