Korea-U.S. Summit Economic Delegation Likely to Be Led by KEA

Attendance of Four Major Conglomerate Leaders Highly Likely
Discussions on Tariffs, Semiconductors, and AI Investment
Potential Additional Participation from Hanwha and HD Hyundai
Business Community Focuses on Government's Recognition of KEA's Role

The composition of the economic delegation for the first Korea-U.S. summit under the Lee Jaemyung administration is reportedly being led by the Korea Economic Association (KEA). Industry insiders view the KEA’s role in preparing such a large-scale economic delegation as a reflection of the government’s changed perception compared to the past.

According to industry and government sources on August 12, the KEA is currently coordinating the size and list of the delegation ahead of the Korea-U.S. summit scheduled for August 25. The delegation will focus on expanding investment and cooperation with the United States in strategic industries such as tariffs, semiconductors, and artificial intelligence (AI). It is highly likely that the heads of the four major conglomerates-Samsung Electronics Chairman Lee Jaeyong, SK Group Chairman Chey Taewon, Hyundai Motor Group Chairman Chung Euisun, and LG Group Chairman Koo Kwangmo-will attend.

Ryu Jin, chairman of the Korea Economic Association, is delivering the 'Top 10 Tasks to Revive the Economy' to Lee Jae Myung, leader of the Democratic Party of Korea, at the 'Democratic Party of Korea-Korea Economic Association Livelihood Economy Meeting' held at the National Assembly on March 5, 2025. Photo by Kim Hyunmin

Samsung Electronics is constructing a semiconductor plant in the U.S. valued at approximately 54 trillion won, while SK Hynix is making an investment of 5.6 trillion won. Hyundai Motor Group has announced plans to invest about 31 trillion won in the U.S., and LG Energy Solution is investing 7.2 trillion won in a battery plant in Arizona.

In the shipbuilding sector, there is speculation that Hanwha Group Vice Chairman Kim Dongkwan and HD Hyundai Senior Vice Chairman Chung Kisun may join the delegation in connection with the MASGA (Mutually Agreed Shipbuilding Growth Arrangement) cooperation package, which was discussed during the Korea-U.S. tariff negotiations.

During the Moon Jaein administration, the KEA was excluded from official economic events due to the aftermath of the influence-peddling scandal. The business community interprets the Lee Jaemyung administration’s decision to entrust the KEA with preparing this delegation as recognition of the association’s network with the American business sector and its broader role.

An industry official stated, “Since the Korea Chamber of Commerce and Industry is currently handling preparations for APEC (Asia-Pacific Economic Cooperation) and other events, the KEA is sharing the responsibilities this time.” The KEA declined to comment on specific details of the preparations, stating, “We cannot confirm anything at this time.”