Top 4 biz group leaders to join Lee's US trip

Chairmen of Korea's top four business groups attend a government economic strategy meeting in Jongno District, Seoul, in this April 1 file photo. From left are Hyundai Motor Group Executive Chair Chung Euisun, SK Group Chairman Chey Tae-won, Samsung Electronics Executive Chairman Lee Jae-yong and LG Group Chairman Koo Kwang-mo. Joint Press Corps

The heads of Korea’s leading conglomerates — including those from the nation’s four largest business groups — are expected to accompany President Lee Jae Myung as part of a business delegation during his upcoming Korea-U.S. summit, scheduled for Aug. 25.

The delegation is anticipated to represent Korea’s core industries of semiconductors, automobiles, batteries and shipbuilding, aiming to bolster economic cooperation with the United States.

According to industry sources on Thursday, the business delegation joining Lee’s visit to the U.S. from Aug. 24 to 26 is likely to include Samsung Electronics Executive Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, Hyundai Motor Group Executive Chair Chung Euisun and LG Group Chairman Koo Kwang-mo. Other prominent leaders expected to participate are Korean Air Chairman Cho Won-tae, Hanwha Group Vice Chairman Kim Dong-kwan and HD Hyundai Senior Vice Chairman Chung Ki-sun.

Samsung has recently signed foundry supply contracts with Tesla and Apple, leading to speculation that its chairman may announce an expansion plan for the company’s Taylor, Texas, plant during Lee’s U.S. visit.

Meanwhile, SK hynix is investing $3.87 billion to build a semiconductor plant in Indiana aimed at next-generation high-bandwidth memory (HBM) production. In March, Hyundai Motor Group announced its intention to invest $21 billion in the U.S. by 2028, spanning automobiles, parts and logistics, steel and emerging industries.

LG Energy Solution, LG’s battery affiliate, currently operates production bases in Michigan, Ohio and Tennessee, and is also building standalone plants in Lansing, Michigan, and Arizona. Joint venture plants with Hyundai Motor in Georgia and Honda in Ohio are also underway.

The Korea Enterprises Federation is reportedly overseeing the coordination of the business delegations' arrangements.