Korean CEOs to attend Mar-a-Lago investment forum

Chairmen of South Korea’s four major conglomerates—Samsung, SK, Hyundai Motor and LG—will attend an investment promotion event at U.S. President Donald Trump’s Mar-a-Lago resort in Florida. Trump is expected to participate, personally urging companies to invest in the U.S.

Industry sources said Tuesday that Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, Hyundai Motor Group Chairman Chung Eui-sun, and LG Corp. CEO Koo Kwang-mo will travel to Palm Beach, Florida, this weekend. About 70 companies are expected to attend, focusing on opportunities in advanced industries such as artificial intelligence and semiconductors. The event is reportedly hosted by SoftBank Chairman Masayoshi Son, who is leading the $500 billion Stargate project to build large-scale U.S. data centers over four years with partners including OpenAI.

This is the first time South Korea’s top business leaders will visit Mar-a-Lago together. Previously, in December last year, Shinsegae Group Chairman Chung Yong-jin visited the resort to meet Trump.

Trump is expected to urge companies to increase investment in the U.S. An industry official said a golf event with the president is also planned.

Following the South Korea-U.S. summit on Aug. 25, the companies announced $150 billion in direct U.S. investment, separate from a $350 billion U.S.-focused investment fund.


Hoon-Sang Park tigermask@donga.com