Samsung chairman departs for Washington amid tariff talks

Samsung Electronics Executive Chairman Lee Jae-yong greets reporters at Gimpo International Airport in Seoul, Tuesday, before his departure for Washington. Yonhap

Samsung Electronics Executive Chairman Lee Jae-yong departed for Washington on Tuesday, in an apparent move to support the government’s ongoing tariff negotiations with the Donald Trump administration.

He left for the U.S. capital from Gimpo International Airport in Seoul without speaking with reporters, who asked about the purpose of his visit.

His departure followed a private dinner with President Lee Jae Myung last Thursday, which is believed to have focused on Samsung’s plans to invest in the U.S.

Given the previous day’s announcement of a $16.5 billion semiconductor foundry deal between Samsung and Tesla, industry officials expect the chairman to emphasize his company’s large-scale investments in the U.S. market to help Seoul persuade Washington to lower the 25 percent “reciprocal” tariffs which the U.S. plans to impose on Korean products starting Aug. 1.

Samsung Electronics, which operates a foundry plant in Texas, plans to invest at least $37 billion by 2030 to reinforce its U.S. semiconductor production base.

Expectations are that Korea may suggest expanded investments in the U.S. semiconductor sector as one of its bargaining chips in the trade talks.

The Samsung chief wasn't the only prominent businessman to make the trip, with Hanwha Group Vice Chairman Kim Dong-kwan also flying to Washington on Monday, as Seoul floated the so-called “Make American Shipbuilding Great Again” project, designed to revive U.S. shipyards with Korean investment.

Kim also had a private dinner with the president on July 21.

After the president’s separate meetings this month with the heads of SK, Hyundai Motor and LG, attention is focused on whether other business leaders will visit Washington before the Aug. 1 deadline.

The main opposition People Power Party criticized the government for pressuring business leaders to find a breakthrough in the stalled tariff talks.

The presidential office, however, dismissed the criticism as groundless.

“The government has never asked business leaders to increase investments in the U.S.,” presidential chief of staff Kang Hoon-sik said Monday. “All members of the presidential office and Cabinet have teamed up to pursue tariff negotiations, prioritizing national interests.”

Presidential spokesperson Kang Yu-jung said Tuesday that the presidential office was unaware of the U.S. visits by heads of private enterprises and declined to comment further.

A few hours before the Samsung chairman’s departure, the government sent Deputy Prime Minister and Finance Minister Koo Yun-cheol to the U.S. for a high-level meeting with U.S. Treasury Secretary Scott Bessent later this week.

“We will do our utmost to produce a proposal that centers on the national interest and enables a mutually beneficial agreement between Korea and the U.S.,” Koo said.