"Business Leaders Gather"... President Lee to Meet Lee Jae-yong and Chey Tae-won Before Overseas Trip

[Financial News] Ahead of his trip to the Middle East, Africa, and the Republic of Türkiye, President Lee Jae Myung is bringing together the heads of Korea’s leading conglomerates, including Samsung, SK, Hyundai Motor Company, and LG. This meeting will allow the government and the business sector to jointly review follow-up measures to the recently concluded United States–Korea Tariff Negotiations 'joint fact sheet.'
On the 14th, the Presidential Office announced, "President Lee Jae Myung will hold a 'public-private joint meeting on follow-up measures to the United States–Korea Tariff Negotiations' over the weekend." The leaders of seven major groups—Samsung Electronics, SK, Hyundai Motor Company, LG, HD Hyundai, Celltrion, and Hanwha Group—will be in attendance. Key figures such as Lee Jae-yong (Samsung Electronics), Chey Tae-won (SK Group), Chung Eui-sun (Hyundai Motor Group), Koo Kwang-mo (LG Group), Chung Ki-sun (HD Hyundai), Seo Jung-jin (Celltrion), and Yeo Seung-ju (Hanwha Group) will all gather for this event.
This meeting is scheduled just one day before President Lee embarks on his overseas trip from the 17th to the 26th, which will include the UAE, Egypt, the Republic of Türkiye, and the RSA. It serves as a comprehensive domestic review with business leaders ahead of a large-scale economic diplomacy mission abroad.
Earlier that morning, President Lee announced the finalization of the United States–Korea Tariff Negotiations 'joint fact sheet,' which covers customs and security agreements. The United States agreed to lower tariffs on Korean automobiles from 25% to 15% and to guarantee conditions for semiconductors that are not less favorable than those for competitors such as Taiwan. For pharmaceuticals, the tariff cap was set at 15%, and the principle of mutual tariff elimination was also included.
In response, Korea has put in place safeguards such as continuing $150 billion in shipbuilding investments, reaffirming a $200 billion strategic investment MOU, and limiting the U.S. request for an additional $20 billion per year. President Lee emphasized, "This has effectively dispelled concerns about excessive concessions."
[email protected] Sung Seok-woo Reporter