Delegation follows Moon to India

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Delegation follows Moon to India

Some 100 Korean businessmen will accompany President Moon Jae-in on his four-day trip to India, said the Korea Chamber of Commerce and Industry (KCCI) on Thursday.

Fourteen large companies, 12 mid-sized companies, 55 smaller firms and 23 public firms and business organizations will send representatives to form a delegation traveling with the president from July 8 to 11.

Samsung Electronics, Hyundai Motor, SK Lubricants, LG Electronics, food business unit of Lotte Group, Posco, GS Caltex and Hanwha Defense are some of the big companies going.

No member of a family that controls a conglomerate is included on the list.

From Samsung Electronics, Vice Chairman Yoon Boo-keun will take part whereas President Chung Jin-haeng will represent Hyundai Motor.

Notably, the 12 mid-sized firms include two law firms - Yulchon and Yoon & Yang - as well as Kintex, a convention business operator, and Korea Aerospace Industries.

Park Yong-maan, chairman of the KCCI, which is in charge of Moon’s Indian trip, will also join them.

President Moon is scheduled to attend a ceremony on July 9 to celebrate the completion of Samsung Electronics’ Noida factory, said the Blue House on Thursday.

The factory has been churning out smartphones and consumer goods such as refrigerators and TVs since 1997, two years after the company launched its business in India. It has been expanding the facility to double its manufacturing capacity.

Sources say Samsung is poised to announce a crucial investment plan to beef up its presence in India, one of the fastest-growing smartphone market in the world, during Moon’s visit to the production site.

Speculation is high that Samsung Electronics Vice Chairman Lee Jae-yong, who has kept a low profile since he was released from prison in February, may also participate in the ceremony.

Samsung has refused to confirm.

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