Business Cooperation Expected in Defense, Shipbuilding, and Energy Sectors
Meeting with Business Leaders Anticipated on the 30th
On April 30, business leaders including Kim Dongkwan, Vice Chairman of Hanwha Group, held a private meeting with Donald Trump Jr., the eldest son of U.S. President Donald Trump. As global supply chain uncertainties are increasing due to President Trump's reciprocal tariff policies, both the business community and the public are paying close attention to this contact with Trump Jr., who is considered a key figure behind the scenes in the Trump administration's potential second term.
Vice Chairman Kim, along with Kim Dongwon, President of Hanwha Life Insurance, and Kim Dongseon, Vice President of Hanwha Galleria, met with Trump Jr. at the Josun Palace Hotel in Gangnam-gu, Seoul on the same day. Specific details of their conversation and the duration of the meeting were not disclosed. In January, Vice Chairman Kim also attended President Trump's inauguration ceremony, candlelight dinner, and starlight ball in Washington, D.C., where he communicated with key government officials and figures from both the political and business sectors.
The meeting with Vice Chairman Kim appears to have been facilitated by the long-standing relationship between Kim Seungyeon, Chairman of Hanwha Group, and Edwin Feulner, Chairman of the Heritage Foundation, a Republican think tank in the United States. Feulner is currently serving as an outside director at Hanwha and maintains a close relationship with Trump Jr.
The meeting was held under tight security. Employees of Shinsegae Group were stationed in the hotel lobby and other areas used by regular guests to restrict the movement of reporters. Trump Jr.'s visit to Korea was at the invitation of Chung Yongjin, Chairman of Shinsegae Group, with whom he has a close personal relationship. After having dinner with Chairman Chung the previous day, Trump Jr. reportedly stayed at Josun Palace Seoul Gangnam, which is affiliated with Shinsegae Group. However, a Shinsegae Group representative stationed at the site explained, "We do not know where or when the meeting will take place," and added, "No information has been shared with us."
This is Trump Jr.'s first visit to Korea since President Trump's inauguration in January of this year. In addition to meeting Vice Chairman Kim and his brothers, Trump Jr. is reportedly scheduled to hold consecutive meetings with major leaders in the semiconductor, automotive, electronics, steel, defense, and energy sectors. The business community expects that a significant number of leaders from the top 10 conglomerates will participate in meetings. Lee Jaeyong, Chairman of Samsung Group; Chey Taewon, Chairman of SK Group; Lee Jaehyun, Chairman of CJ Group; Park Jungwon, Chairman of Doosan Group; Koo Ja-eun, Chairman of LS Group; Cho Won-tae, Chairman of Hanjin Group; Lee Haejin, Chairman of the Board at Naver; Shin Yooyeol, Executive Vice President and Head of Future Growth at Lotte Holdings; and Seo Jungjin, Chairman of Celltrion, are also being mentioned as potential participants. However, during this visit, Trump Jr. is not expected to meet with domestic political or government officials.
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