Photos of Shinsegae chairman with Trump Jr. spark Korean media frenzy

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Photos of Shinsegae chairman with Trump Jr. spark Korean media frenzy

Published: 21 Nov. 2024, 17:18 Updated: 22 Nov. 2024, 15:12

CHO YONG-JUN
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A photo of Shinsegae Chairman Chung Yong-jin and Donald Trump Jr. posted on Chung's Instagram on January [SCREEN CAPTURE]

Photos of Shinsegae Group Chairman Chung Yong-jin with Donald Trump Jr., taken earlier this year, resurfaced in Korea following the U.S. presidential election.

Chung posted two photos on his personal Instagram page — currently at around 810,000 followers — on Jan. 31, one of himself posing with Trump Jr. and the with Trump Jr. and his fiancee. Chung wrote in the captions, “I met and talked with Trump Jr. I sat next to him at an event hosted by media 10 years ago.”

Multiple Korean media outlets wrote articles Thursday focusing on the relationship between the two. For example, a "source close to the matter" told Yonhap that Chung is the only Korean entrepreneur “who is able to directly communicate with a key member of President-elect Trump" and that the country should use Chung’s “personal connection in economic diplomacy if needed.”

Shinsegae Group told the JoongAng Ilbo, an affiliate of the Korea JoongAng Daily, that the two business executives had met in New York three to four years ago when Chung was scheduled to meet with the President-elect. Trump, who was unable to attend the meeting last minute, had sent Trump Jr., his eldest son, as a replacement.

Chung and Trump Jr. continued their relationship through text message and eventually met up again in the United States last year, when Trump Jr. introduced Chung to his fiance, Kimberly Guilfoyle. Trump Jr. also met Chung during visits to Korea in April and August.

Chung, the grandson of Samsung founder Lee Byung-chull, took the helm of the company in March, having served as the retail conglomerate's vice chairman since 2006.

Chung’s outspokenness on social media, such as posting the term myeolgong (“crush commies”) — in a dramatic departure from the reserved public persona exhibited by other Korean chaebol, who typically refrain from expressing their views online — has also posed risks for Shinsegae Group.

Shinsegae rose 1.09 percent higher Thursday to close at 129,600 won ($93). The group reported a 40.7 percent fall in net profit on year, at 36.6 billion won, for the third quarter period.

BY KIM CHUL-WOONG,CHO YONG-JUN [[email protected]]