Korean firms' spending on US lobbying doubles in 5 years: data

Samsung Group's building in southern Seoul, July 17 / Yonhap

Korean businesses' spending on lobbying in the United States has more than doubled over the past five years, data showed Wednesday, in line with their efforts to address Washington's industrial policies.

Major Korean companies spent a combined $35.32 million on lobbying activities in the U.S. last year, up 41.8 percent from a year earlier amid the U.S. presidential election, according to the data compiled by industry tracker CEO Score.

The amount marked a sharp rise from $15.53 million in 2020.

In 2024, seven Korean conglomerates, including Samsung, Hyundai Motor and Hanwha, each spent more than $1 million on lobbying activities.

Samsung Group, which holds Samsung Electronics Co. and Samsung SDI Co. under its wing, spent $8.62 million last year, the largest amount among all Korean conglomerates.

SK Group spent $7.08 million, followed by Hanwha Group with $6.05 million.

Hyundai Motor Group and Coupang spent $4.78 million and $3.31 million, respectively, on lobbying, the data showed. LG Group spent $1.34 million.

"South Korean companies apparently expanded lobbying expenditures to prepare for political risks during the U.S. presidential election, along with efforts to address U.S. industrial policies," the industry tracker said.