"I will work hard" Heads of US Economic Delegation, 'Investment Bundle'... Will Samsung also participate in 'MASGA'?

[Financial News] Lee Jae-myung's government has listed the names of Lee Jae-yong, Chairman of Samsung Electronics, Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry and Chairman of SK Group, Koo Kwang-mo, Chairman of LG Group, and other corporate heads and representatives in the economic delegation for the first Korea-US summit. They departed on the 24th with a 'US investment bundle' amid a tense atmosphere.
■ Preparing a '100 billion dollar' investment bundle to captivate Trump
According to the business community, the total US investment amount of the economic delegation, consisting of 15 people including the heads of the four major groups Samsung Electronics, SK, Hyundai Motor, and LG Group, is expected to be at least 100 billion dollars. This is in addition to the government-level total of 350 billion dollars US investment fund concluded at the end of last month during the Korea-US tariff negotiations, and separate 'gift bundles' prepared by individual companies. Earlier this month, on the 6th, Minister of Trade, Industry and Energy Kim Jung-gwan hinted in the National Assembly that, in addition to the 350 billion dollar US investment fund promised to the US side during the Korea-US tariff negotiations, a separate direct US investment could be announced at this Korea-US summit.
Although the tariff negotiations between countries are entering the final stage, there is speculation that the pressure on individual companies such as semiconductor and steel companies from the US will increase. This includes attempts to secure a 10% stake in Intel, demands for 15% of Nvidia and AMD's profits in China, etc. The US Department of Commerce's demand for shares in Samsung Electronics and TSMC was withdrawn after controversy, but there is growing concern that unprecedented and bizarre corporate management interventions are becoming more pronounced.
The heads accompanying President Lee Jae-myung on his first trip to the US also appear tense. Lee Jae-yong, Chairman of Samsung Electronics, remained silent when asked by reporters about his US plans and boarded a flight to the US through Seoul Gimpo Business Aviation Center (SGBAC) in Gangseo-gu at around 3:50 PM. Only Choi Tae-won, Chairman of SK, who left earlier, briefly expressed his determination to visit the US by saying, "I will work hard," while Koo Kwang-mo, Chairman of LG Group, Kim Dong-kwan, Vice Chairman of Hanwha Group, and others headed to the US in silence.
■ Will Samsung also participate in 'MASGA'... Key figures in focus
In the business community, there is speculation that Samsung Electronics may announce additional plans for expanding its semiconductor plant in Taylor, Texas, or establishing a third semiconductor plant in the US, in addition to the previously announced 37 billion dollar US investment. The possibility of Samsung Heavy Industries participating in the US shipbuilding revival project MASGA, led by Hanwha Group and HD Hyundai, is also attracting attention. On this trip to the US, Chairman Lee is accompanied by Samsung Electronics Vice Chairman Jung Hyun-ho, Samsung Electronics President Kim Won-kyung (GPA Director) in charge of external affairs, Samsung C&T President Oh Se-chul, and Samsung Heavy Industries Vice Chairman Choi Sung-an. Chairman Lee is expected to use US investment as leverage to address issues such as semiconductor tariffs, subsidies under the CHIPS Act, and securing semiconductor orders in the US.
SK Group has invested 34.6 billion dollars in the US until last year and is considering an additional 13 billion dollars (18 trillion won) investment by 2028. Currently, the estimated funds invested by SK On in establishing six battery plants in the US amount to approximately 10.8 billion dollars. Chairman Choi Tae-won is expected to have prepared an investment package focusing on the four major industries of semiconductors, batteries, next-generation nuclear power, and the bio industry.
In March, Hyundai Motor Group Chairman Chung Eui-sun announced a new investment of 21 billion dollars (29 trillion won) with President Donald Trump.
GS Group Chairman Huh Tae-soo is expected to engage in activities related to the US liquefied natural gas (LNG) project and energy business. Korean Air Chairman Cho Won-tae is likely to expand the 48 trillion won contract for aircraft and engine procurement. Chairman Park Ji-won is expected to discuss US-Korea cooperation related to Doosan Enerbility's small modular reactors (SMR), and Chairman Seo Jung-jin is expected to announce follow-up measures for the acquisition of a local bio company production plant. Naver CEO Choi Soo-yeon is focused on cooperation plans related to artificial intelligence (AI). In the case of Korea Zinc Chairman Choi Yoon-bum, there is a high possibility of discussing the expansion of strategic mineral exports in line with the US's policy of decoupling from China's supply chain.
Meanwhile, according to the Ministry of Trade, Industry and Energy and the Korea Economic Association, the amount invested by major domestic companies such as Samsung, LG, SK, and Hyundai Motor in the US over the past 10 years since President Trump's first term in 2016 exceeds 160 billion dollars (220 trillion won).
ehcho@fnnews.com Cho Eun-hyo Reporter