U.S. Senate Democrats urge probe into $2 million payment by Korean company to Trump side

[Financial News] U.S. Democratic senators have asked for an explanation from the Korean company Base Group, which paid $2 million to a holding company owned by U.S. President Donald Trump, The Washington Post reported on the 6th (local time).
Senators Elizabeth Warren, Richard Blumenthal and Andy Kim said the payment was made amid a trade dispute and raised suspicions of "possible abuse of power and bribery."
The funds in question were identified in President Trump’s financial disclosure in June as being for a letter of intent and a nonrefundable development fee. Base Group is a major investor in Korea Aluminum, which the United States Department of Commerce has accused of attempting to reroute Chinese aluminum exports through Korea.
In a letter, Democratic lawmakers strongly criticized the move, saying, "If Base Group tried to buy President Trump’s influence in exchange for lower tariffs or preferential exemptions, this would be an extreme example of corruption in the Trump administration." The lawmakers also said that if the tariff penalties were lifted, Base Group would reap enormous windfall profits.
The Trump Organization said the payment was a legitimate transaction tied to a letter of intent for golf course management signed in August 2025. A Trump spokesperson denied the allegations outright, calling claims that there was any motive beyond business considerations "pure fiction." The White House also said the Commerce Department’s investigation was conducted fairly and in accordance with legal procedures, and that there was no conflict of interest because the president’s assets are managed by an independent third-party institution.
The United States Department of Commerce is currently imposing a preliminary tariff of 105% on Korea Aluminum’s exports, about four times the previous rate. Ahead of the midterm elections, the U.S. Democratic Party has expanded its investigation into ethical issues and corruption allegations involving the Trump family’s global business network.
[email protected] Yoon Jae-jun Reporter