Korean delegation to visit White House to discuss cooperation in face of tariffs
Published: 16 Feb. 2025, 16:51
Updated: 16 Feb. 2025, 17:45
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- JIN EUN-SOO
- [email protected]
Audio report: written by reporters, read by AI
![An illustration of U.S. President Donald Trump, who has heralded a reciprocal tariff plan [KIM JI-YOON]](https://koreajoongangdaily.joins.com/data/photo/2025/02/16/14c4fcd1-b63c-4f5e-8d21-258320f7825b.jpg)
An illustration of U.S. President Donald Trump, who has heralded a reciprocal tariff plan [KIM JI-YOON]
A business delegation comprising chiefs of big Korean companies like Samsung and Hyundai Motor will head to White House this week to suggest bilateral cooperation models in five areas — energy, shipbuilding, automotive, nuclear power plant and semiconductor — in a response to U.S. President Donald Trump's plan for reciprocal tariffs that potentially target Korea.
The Korean Chamber of Commerce and Industry (KCCI) mobilized a delegation headed by SK Group Chairman Chey Tae-won, who doubles as the lobby's chairman, with some 26 chiefs of Korea's major conglomerates including HS Hyosung Vice Chairman Cho Hyun-sang, Samsung Electronics President Kim Won-kyung, SK On Vice Chairman Yu Jeong-joon, SK Supex Council President Lee Hyung-hee, Hyundai Motor President Sung Kim — a former U.S. ambassador to Korea — and American Chamber of Commerce in Korea Chairman James Kim among others.
The delegation's itinerary includes meetings with senior officials at the White House and key members of the U.S. Congress to go over areas in which the two countries can strategically collaborate and introduce Korea's action plan that can bring about more U.S. investment. These meetings will be held on Feb. 20, following a Korea-U.S. Business Night gala dinner the day before.
"The fact that Korea set an exemplary case for fulfilling the 'Buy American' initiative during the first Trump administration is going to be emphasized," the KCCI said in a release Sunday.
"We will emphasize that Korean companies are credible partners for the second Trump administration as well."
Korea was the top greenfield investment country for two consecutive years in 2023 and 2024, having pledged billions of dollars in the United States to build manufacturing facilities.
It has invested $160 billion in the country since 2017 in the automotive, semiconductor and battery fields, according to the KCCI. It had pledged $57.5 billion when President Trump visited Korea eight years ago, but overachieved the figure by investing $90.8 billion during the same time span to reach 160 percent of what was initially pledged.
The KCCI delegation's trip will coincide with a U.S. visit by Korea's deputy trade minister, Park Jong-won, who is expected to meet with senior officials from the U.S. Commerce Department and the United States Trade Representative in Washington between Feb. 17 and 21.
Park is expected to be Korea's first senior government official to make a visit to Washington since the inauguration of Trump for his second term.
Korea’s steel and automotive industries are already bracing for the impact of Trump's policies. The president imposed a 25 percent tariff on all steel and aluminum imports starting March 12 and is expected to announce additional tariffs on imported cars around April 2.
Korea International Trade Association Chairman Yoon Jin-sik is planning a March visit to U.S. states such as Georgia and Texas, where Korean companies have made significant investments, as part of a strategic effort to garner support from local stakeholders and ensure their voices are considered in the final draft of the reciprocal tariff policy in April.
BY JIN EUN-SOO [[email protected]]
with the Korea JoongAng Daily
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