Seoul: Donald Trump Jr., the eldest son of U.S. President Donald Trump, engaged in discussions with Hanwha Group Vice Chairman Kim Dong-kwan and his two brothers, leaders of Hanwha affiliates, to explore potential partnerships in the shipbuilding, defense, and energy sectors, as reported by industry sources.
According to Yonhap News Agency, Trump Jr. arrived in Seoul late Tuesday to prepare for meetings with approximately 20 business leaders from major South Korean conglomerates. This marked his first visit to South Korea since his father assumed the presidency in January. The visit was organized following an invitation from Shinsegae Group Chairman Chung Yong-jin.
Trump Jr. conducted his meeting with Vice Chairman Kim Dong-won, Chief Global Officer and President of Hanwha Life Corp., and Kim Dong-seon, Vice President and Head of Future Vision at Hanwha Galleria Corp., at a hotel in southern Seoul, as stated by an industry source familiar with the matter.
In addition to the meeting with Hanwha executives, Trump Jr. was scheduled to meet with other prominent Korean business leaders, including CJ Group Chairman Lee Jae-hyun, Celltrion Inc. Chairman Seo Jung-jin, Naver Corp. founder Lee Hae-jin, and Lotte Corp. Senior Vice President Shin Yoo-yeol.
A spokesperson from CJ indicated that Chairman Lee was set to discuss the expansion of business partnerships in the U.S. market, given the rising demand for CJ's Bibigo dumplings and other food products. Similarly, Lotte's Shin Yoo-yeol planned to address U.S. expansion, where the company operates various facilities, according to a company spokesperson.
These meetings offer South Korean companies exporting to the U.S. a valuable chance to connect directly with someone closely associated with President Trump, presenting a unique opportunity for establishing communication channels with Washington.
Industry sources revealed that South Korea's business circles had previously requested Shinsegae Chairman Chung to facilitate Trump Jr.'s visit to Seoul, anticipating opportunities to build relationships with a potential second-term Trump administration.
Executives from the semiconductor, automotive, energy, steel, and defense sectors have also shown interest in seeking one-on-one discussions with Trump Jr., as highlighted by an industry official.
In December, Trump Jr. extended an invitation to the Shinsegae chairman to visit his father's Mar-a-Lago resort in Florida, which resulted in a meeting between Chung and then President-elect Trump.
Furthermore, the Trump administration had initiated "reciprocal tariffs," including 25 percent duties on South Korea, which were temporarily paused for 90 days starting April 9. In recent trade negotiations, Seoul and Washington agreed to work towards a comprehensive package agreement by July 8, coinciding with the expiration of the tariff pause.