Two-Hour Meeting with Economic Leaders Ahead of Korea-US Summit
"Government and Businesses Facing Challenges from Changing Export Conditions... Joining Forces to Overcome the Crisis"
On August 19, President Lee Jaemyung held a meeting with business leaders accompanying him on his state visits for the Korea-US and Korea-Japan summits, urging, "I hope the companies joining this trip will achieve substantial results on-site."
According to Presidential Spokesperson Kang Yujeong, President Lee made these remarks while presiding over the "US-Japan State Visit Accompanying Economic Organizations and Business Leaders Meeting" at the presidential office in Yongsan that day. Prior to his visit to the United States, President Lee personally met with Korean business leaders to discuss ways to maximize economic outcomes at the Korea-US summit and to listen to their investment and procurement plans for the US market.
The meeting, which lasted for two hours from 10:30 a.m., was attended by Choi Taewon, Chairman of the Korea Chamber of Commerce and Industry; Ryu Jin, Chairman of the Federation of Korean Industries; Lee Jaeyong, Chairman of Samsung Electronics; Koo Kwangmo, Chairman of LG; Cho Won-tae, Chairman of Hanjin Group; and Kim Dongkwan, Vice Chairman of Hanwha Group. Park Ji-won, Chairman of Doosan Enerbility; Seo Jeongjin, Chairman of Celltrion; and Jang Jaehun, Vice Chairman of Hyundai Motor Group, were also present. Business leaders from the shipbuilding, semiconductor, automotive, defense, bio, and energy sectors were widely represented.
Spokesperson Kang stated, "President Lee expressed his appreciation for the significant efforts made by our business leaders during the recent tariff negotiations, which led to better-than-expected results. He emphasized that the government's top priority is to revive the economy and lay the foundation for sustainable growth. While both the government and companies are facing difficulties due to changes in export conditions, he called for joint efforts to turn this crisis into an opportunity." Kang added, "President Lee listened carefully to practical suggestions and advice from business leaders based on their hands-on experience and information."
At the meeting, Chairman Ryu assessed that the recent negotiations had removed uncertainty and restored growth potential for Korean businesses, pledging that the business community would do its utmost as a government partner. Chairman Lee also promised to continue investing not only in the US market but also domestically, to create quality jobs and foster high value-added industries.
Additionally, Chairman Seo stated, "We must shift our mindset and prepare for future industries by seeing crises as opportunities. To nurture talented young entrepreneurs, there should be more investment in startups rather than relying solely on collateral loans." He added, "I hope the summits will be held successfully, protecting both corporate interests and the national interest."
Meanwhile, President Lee is scheduled to hold a Korea-Japan summit with Japanese Prime Minister Shigeru Ishiba on August 23, and a Korea-US summit with US President Donald Trump on August 25.
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