Shinsegae chairman to schmooze with Trump Jr. and friends at inauguration
Published: 19 Jan. 2025, 16:32
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- KIM JU-YEON
- [email protected]
![Shinsegae Group Chairman Chung Yong-jin tiold reporters he planned to meet key U.S. figures through the introduction of Donald Trump Jr. on Jan. 18 at John F. Kennedy International Airport in New York, where he was set to take a plane to Washington ahead of U.S. President-elect Donald Trump's inauguration. [YONHAP]](https://koreajoongangdaily.joins.com/data/photo/2025/01/19/3097387b-78f2-41e0-a7b3-4d863968c995.jpg)
Shinsegae Group Chairman Chung Yong-jin tiold reporters he planned to meet key U.S. figures through the introduction of Donald Trump Jr. on Jan. 18 at John F. Kennedy International Airport in New York, where he was set to take a plane to Washington ahead of U.S. President-elect Donald Trump's inauguration. [YONHAP]
Korean business heads are gearing up for a Donald Trump presidency. Major conglomerate leaders are set to attend the President-elect’s inauguration on Jan. 20 as part of efforts to assuage the influence of the U.S. politician, who has proposed potential tariffs that could highly impact Korea’s exports and currency.
Shinsegae Group Chairman Chung Yong-jin told reporters he was set to meet with U.S. diplomatic heads, as well as political and financial leaders, through the President-elect’s son, Donald Trump Jr., at the swearing-in ceremony.
Chung drew the line when asked if he would work as a mediator for Korea-U.S. economic relations, saying he was “trying to diligently fulfill duties taken up as a businessman" after landing at New York's John F. Kennedy International Airport for a layover on Saturday, according to Yonhap News Agency.
The chairman, however, added that communication channels with the United States needed improvement while expressing dissatisfaction with the fact that current political turmoil in Korea has left an administrative vacuum regarding responses to the second Trump administration.
The chairman left for Washington, where the inauguration will take place, on Saturday. He said he did not have specific plans after the swearing-in ceremony and inauguration ball, to which he was invited by Trump Jr.
Other executives with businesses in both Korea and the United States set to attend the inauguration include Coupang CEO Bom Kim; Woo Oh-hyun, chairman of construction and shipping conglomerate SM Group; Hur Young-in, chairman of bakery franchise SPC Group; and Ryu Jin, chairman of Poongsan Group and the Federation of Korean Industries.
SK Group and Korea Chamber of Commerce and Industry Chairman Chey Tae-won called on policymakers to reduce reliance on exports on a TV show on Sunday.
The international trade framework has shifted from a multilateral to a bilateral one, which will be exacerbated by the incoming Trump administration, Chey said, recommending that Korea adapt to the new order by strengthening ties with the neighboring Japan, attracting more long-term foreign residents, exporting more of its culture using its soft power and increasing overseas investment.
BY KIM JU-YEON [[email protected]]
with the Korea JoongAng Daily
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