Seoul: Donald Trump Jr., the eldest son of U.S. President Donald Trump, engaged in a series of confidential meetings with leading Korean business figures on Wednesday to explore potential collaborations in the shipbuilding, defense, and energy sectors. These discussions were held behind closed doors at the Josun Palace hotel in Yeoksam, southern Seoul, with approximately 20 leaders from major South Korean conglomerates participating.
According to Yonhap News Agency, the business leaders involved are from sectors heavily reliant on U.S. markets, including energy, IT, defense, biotech, semiconductors, and steel. Each session lasted between 30 minutes to an hour, with the meetings spanning nearly 12 hours starting from 7 a.m. Notably, Hanwha Group's Vice Chairman Kim Dong-kwan and his brothers, Kim Dong-won and Kim Dong-seon, were among the attendees. Hanwha Group is recognized for its established links with the U.S. Republican Party.
This visit marks Trump Jr.'s first trip to South Korea since his father's inauguration. The trip was organized at the invitation of Shinsegae Group Chairman Chung Yong-jin. Trump Jr. arrived in Seoul late Tuesday and had a private dinner with Chung at his residence.
Among other business figures reportedly present were CJ Group Chairman Lee Jae-hyun, Celltrion Inc. Chairman Seo Jung-jin, Naver Corp. founder Lee Hae-jin, Lotte Corp. Senior Vice President Shin Yoo-yeol, Korean Air CEO Cho Won-tae, and LS Group Chairman Koo Ja-eun. However, the heads of South Korea's top four conglomerates-Samsung Electronics, SK Group, Hyundai, and LG-were notably absent.
A spokesperson for CJ mentioned that Chairman Lee Jae-hyun planned to discuss expanding CJ's footprint in the U.S. market, particularly for products like Bibigo dumplings. Similarly, Lotte's Shin Yoo-yeol was expected to discuss U.S. expansion plans, including their CDMO plant, chemical facility, and hotels.
For South Korean companies seeking stronger ties with the U.S., these meetings provided a valuable opportunity to interact with a key figure close to President Trump. Industry insiders revealed that South Korea's business community had urged Shinsegae's chairman to help arrange Trump Jr.'s visit even before the U.S. presidential election, with hopes of solidifying connections with a possible second-term Trump administration.
The Trump administration's recent trade policies, including the imposition of reciprocal tariffs on South Korea, have made such engagements particularly significant. In recent trade negotiations, both nations agreed to pursue a comprehensive package by July 8, aligning with the expiration of the 90-day tariff pause.