President Lee to Attend China Business Forum... 400 Participants Including Heads of Four Major Conglomerates

President Lee Jae-myung and First Lady Kim Hye-kyung, who are making a state visit to China, are greeting the welcoming party on Air Force One upon their arrival at Beijing Capital International Airport on the 4th. Photo by Yonhap News

President Lee Jae-myung, who is on a state visit to China, will attend the Korea-China Business Forum on January 5. The forum is expected to be a large-scale event, with around 400 participants, including 200 members of the Korean economic delegation such as the heads of the country's four major conglomerates, as well as Chinese business leaders.

According to the Office of the President on January 5, the forum will be attended by 11 Korean companies and 11 Chinese companies. The state-run Global Times reported that the total number of participants from both countries is expected to reach approximately 400. The forum will focus on topics such as manufacturing innovation and supply chain recovery, consumer market upgrades and innovation, and collaborative development in the modern service industry.

From Korea, the heads of the four major conglomerates-Lee Jae-yong, Chairman of Samsung Electronics; Chey Tae-won, Chairman of SK Group; Chung Eui-sun, Chairman of Hyundai Motor Group; and Koo Kwang-mo, Chairman of LG Group-will all be in attendance. Other notable participants include Jang In-hwa, Chairman of POSCO Group; Huh Tae-soo, Chairman of GS Group; Lee Jae-hyun, Chairman of CJ Group; and Koo Ja-eun of LS Holdings. Choi Byung-oh, Chairman of Hyungji Fashion Group; Jang Cheol-hyuk, CEO of SM Entertainment; and Kim Chang-han, CEO of Krafton, a game company, are also scheduled to attend.

From China, representatives from major organizations and companies will participate, including the China Council for the Promotion of International Trade (CCPIT), a quasi-governmental body responsible for promoting foreign trade and investment; Sinopec Group; China Energy Engineering Group; Industrial and Commercial Bank of China; TCL Technology Group; CATL, the top electric vehicle battery company; Tencent; and ZTE.

The Korean economic delegation plans to use the forum as a platform to discuss ways to stabilize supply chains that have been disrupted by the US-China conflict. They will also explore new industrial cooperation opportunities and, together with relevant ministries, seek to sign memorandums of understanding (MOUs) in key areas such as critical minerals, the digital economy, and eco-friendly energy.