For 31 tycoons, travel with the president is ultimate business trip

In the eyes of investors and businessmen, President Roh Moo-hyun’s visit to the United States has two axes ― the economy and North Korea ― and especially in the eyes of foreign investors, the two are connected.
The president will be accompanied by senior Blue House aides and an unusually large number of business leaders. He will be accompanied by an official delegation 49 strong, including 16 government officials, 31 business representatives and two members of the American Chamber of Commerce. The nonofficial delegation numbers 59. About 80 members of the press will accompany the president.
From the government and the Blue House, Mr. Roh’s party includes Kim Jin-pyo, minister of finance and economy; Yoon Young-kwan, minister of foreign affairs and trade; Han Sung-joo, South Korea’s ambassador to the United States and his wife; Ra Jong-yil, senior adviser for national security; Cho Yoon-je, senior adviser for economic affairs; Ban Ki-moon, senior adviser for foreign policy; Hwang Doo-yun, minister for trade; General Kim Jong-hwan, of the Joint Chiefs of Staff; Kim Young-jin, minister of agriculture and tourism, and Chin Dae-je, minister of information and communication, along with and Blue House aides and Foreign Ministry officials.
The economic delegation includes Son Kil-seung, chairman of SK Group and the Federation of Korean Industries; Kim Young-soo, head of the Small and Medium Business Administration; Park Yong-sung, chairman of Dongwon Corp. and of the Korea International Trade Association; Kim Chang-seong, chairman of Jeonbang Co. and of the Korea Employers Federation, and Chang Hong-sun, chairman of Turbotek Co. and head of the Korea Venture Business Association.
“It is unusual that this economic delegation is so large, and with high-level executives included,” said Lee Yong-woo, a department manager with the Federation of Korean Industries.
When former President Kim Dae-jung made his first visit to the United States in June 1998, not one jaebeol chairman went along.
Other top tycoons are Lee Kun-hee of Samsung Group, Koo Bon-moo of LG Corp, Chung Mong-koo of Hyundai Motor Co., Cho Suck-rai of Hyosung Corp., Cho Yang-ho of Korean Air, Park Yong-oh of Doosan Heavy Industries Co., Hyun Jae-hyun of Tong Yang Cement Corp., Lee Joon-yong of Daelim Industrial Co., Lee Woong-yul of Kolon Industries Inc., Shin Dong-bin of Lotte Shopping Co., Choi Young-kwon of Samwhan Corp., Kim Yoon of Samyang Corp., Rhyu Jin of Poongsan Corp., and Lee Ku-tack of Posco.
Also, John Koo of LG Electronics Inc., Lee Hak-soo of Samsung Electronics Co., Kim Dong-jin of Hyundai Motor Co., Byun Dae-kyu of Humax Co., Kim Hyung-soon of Locus Corp. and Lee Jae-woong of Daum Communications Corp.
Rhyu Jin of Poongsan Corp. was included, too, because he enjoys close family ties to the Bush family.
The Blue House explained that Mr. Roh, in New York and San Francisco, will “sell” the Korean economy as well as explain his economic and labor policies. He begins his trip in New York, on the New York Stock Exchange. After meeting President Bush in Washington, he flies to San Francisco, where he will visit Silicon Valley. Mr. Chin, the information minister, will be at his side. As former chief executive officer of Samsung Electronics, Mr. Chin has an extensive network of acquaintances in Silicon Valley. The president is also expected to visit Intel.
The businessmen will hold separate investment shows during the seven-day visit.
William Oberlin and Tami Overby, president and executive vice president of the American Chamber of Commerce in Korea, were brought along by the Blue House when they said that they would explain to the United States South Korea’s efforts at economic reforms and restructuring.

by Kim Ji-soo