On August 25 (local time), business leaders including Samsung Electronics Chairman Jay Y Lee, SK Group Chairman Chey Tae-won, LG Group Chairman Koo Kwang-mo, and Hanwha Group Vice Chairman Kim Dong-kwan officially began their activities as members of the economic delegation to the Korea-US summit in Washington, DC, USA.
Chairman Lee departed the previous afternoon, August 24, through the Seoul Gimpo Business Aviation Center (SGBAC) in Gangseo-gu, Seoul. He was reportedly accompanied on his business trip by Vice Chairman Jung Hyun-ho of the Business Support Task Force, Vice Chairman Choi Sung-an of Samsung Heavy Industries, and President Oh Se-chul of Samsung C&T. The industry is paying close attention to the possibility that Samsung Electronics may announce an expansion plan for its Taylor plant in Texas during this summit. Samsung Electronics has already committed to investing $17 billion (approximately 23.6 trillion won) in Taylor by 2030, and subsequently increased its total US investment to $37 billion (about 51 trillion won).
Interest is also growing as Samsung Electronics recently secured major contracts with global big tech companies such as Tesla and Apple before and after Chairman Lee's US trip. The company signed a foundry (semiconductor contract manufacturing) deal with Tesla worth 23 trillion won and a next-generation chip supply agreement with Apple, further highlighting the need to expand production lines in the US. In the battery sector, Samsung SDI is operating its first joint plant with Stellantis in Indiana, and is working toward completing a second plant and a joint plant with GM by 2027. Considering the growth of the energy storage system (ESS) market, strengthening local production lines is also reportedly part of the plan. Chairman Lee is expected to support the government in securing a favorable position in trade negotiations through his "investment card" encompassing semiconductors, batteries, and bio businesses.
Samsung Electronics Chairman Jay Y Lee is departing through the Seoul Gimpo Business Aviation Center (SGBAC) in Gangseo-gu, Seoul on the 24th to accompany the economic delegation to the Korea-US summit held in Washington DC, USA. 2025.8.24. Photo by Yonhap News
Chairman Chey briefly stated, "I'll do my best," around noon as he departed. SK Group is seeking to expand its investments in the US, focusing on semiconductors, batteries, and energy. There is speculation that discussions may include the expansion of SK Hynix's next-generation high-bandwidth memory (HBM) packaging lines and the operation of SK On's electric vehicle battery joint ventures in the US. Chairman Chey is expected to play a key role in broadening the scope of industrial cooperation by emphasizing "innovation partnerships" such as technology collaboration and joint research and development between Korea and the US.
Chairman Koo is reportedly preparing to discuss pending issues related to LG Energy Solution's battery joint ventures and LG Chem's investments in battery materials. As LG Group continues to invest in key materials such as cathodes and separators to align with the expansion of the US electric vehicle market, Chairman Koo is expected to emphasize the message of "strengthening the battery material supply chain."
Vice Chairman Kim is expected to play a role in expanding the strategic cooperation foundation of the Korea-US alliance, leveraging Hanwha's investments in the defense and energy sectors. Hanwha is pursuing entry into the small modular reactor (SMR) field and expanding investments in renewable energy sectors such as solar and hydrogen. Vice Chairman Kim is therefore expected to act as a bridge for the "energy and security alliance" during this delegation's visit.
In addition, Chairman Cho Won-tae of Hanjin Group will represent the air logistics sector; Senior Vice Chairman Chung Ki-sun of HD Hyundai will focus on shipbuilding and offshore plant industries; Chairman Park Ji-won of Doosan Enerbility will address nuclear power equipment supply; and Chairman Seo Jung-jin of Celltrion Group will advocate for expanding biopharmaceutical production. Chairman Huh Tae-soo of GS Group will focus on energy and retail, Chairman Koo Ja-eun of LS Group on power infrastructure, Chairman Choi Yoon-bum of Korea Zinc on secondary battery material supply chains, and CEO Choi Soo-yeon of Naver will prioritize strengthening cooperation in artificial intelligence (AI) and digital sectors.
With a large number of top executives representing key industries such as aviation, shipbuilding, energy, bio, and IT joining the delegation, this group is being described as a "business all-star team" for its breadth and depth. At the Korea-US summit in Washington on August 25, they are expected to join the government delegation in supporting negotiations on trade and investment. Major issues such as semiconductor tariffs, nuclear power cooperation, electric vehicle and battery regulations, and core mineral supply chains will be on the table. The delegation's goal is to achieve tangible cooperation outcomes by aligning the interests and investment plans of each company with these critical agenda items.
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