Home > Business > Industry

Hyundai Motor, Samsung made large donations to Trump, U.S. reveals

Published: 22 Apr. 2025, 17:07 Updated: 22 Apr. 2025, 19:18

U.S. President Donald Trump attends the annual White House Easter Egg Roll on the South Lawn of the White House in Washington on April 21. [REUTERS/YONHAP]

Hyundai Motor, Samsung Electronics, Hanwha and other Korean companies were revealed on Monday to have made donations to U.S. President Donald Trump's inauguration ceremony held on Jan. 20.

Trump had announced even before his inauguration plans for steep tariffs on automobiles and semiconductors, and had also expressed a negative stance on solar energy, the core business of Hanwha Q Cells.

Trump raised a record $239 million in donations for his inauguration, the highest among all U.S. presidents, according to data the U.S. Federal Election Commission (FEC) released Monday.

Among Korean companies, Hyundai Motor donated $1 million through its North American subsidiary, Hyundai Motor America, on Jan. 6. Samsung Electronics followed a week later, donating $315,000 through its U.S. subsidiary, Samsung Electronics America, on Jan.13. Hanwha also made a total donation of $1 million, with Hanwha Defense USA and Q Cells America each contributing $500,000 on Dec. 11 last year and on Jan. 6, respectively.

Because foreign companies cannot donate directly to the Presidential Inaugural Committee, they are presumed to have made contributions through their local subsidiaries. These donations are interpreted as gestures of good will toward the Trump administration, which had foreshadowed high tariff policies.

In the case of Hanwha, which donated $1 million, Vice Chairman Kim Dong-kwan was invited not only to the inauguration ceremony but also to a VIP pre-inauguration dinner the night before.

Hyundai Motor Group Executive Chair Euisun Chung speaks at the White House as U.S. President Donald Trump watches on March 24. [SCREEN CAPTURE]

Furthermore, on March 20, the U.S. Department of Commerce accepted a petition filed by Hanwha Q Cells and six other companies against Chinese solar manufacturers and decided to impose antidumping and countervailing duties on solar panels from Southeast Asia.

Likewise, Hyundai Motor Group Executive Chair Euisun Chung, whose company also donated $1 million, held an investment announcement event at the White House on March 24, which Trump attended.

Many of the companies that made large donations had direct business interests affected by Trump’s policies.

Among U.S. automakers, Ford Motor and General Motors each donated $1 million. Trump imposed a 25 percent tariff on automobiles while signaling a willingness to delay tariffs on key parts. These companies operate many factories in Canada and Mexico. Among foreign automakers, only Toyota Motor of Japan, in addition to Hyundai, contributed $1 million.

SUVs are on display at a Ford dealership in Las Vegas on April 4. [AP/YONHAP]

Companies affected by recent tariff deferments, such as smartphone and semiconductor manufacturers, also appeared on the list of major donors.

Apple CEO Tim Cook personally donated $1 million, and semiconductor companies including Micron, Qualcomm and Nvidia also contributed $1 million each. Apple, in particular, manufactures nearly 90 percent of its flagship iPhones in China.

Among energy companies aligned with Trump's core policy of oil drilling, Chevron donated $2 million, and ExxonMobil and Occidental Petroleum each donated $1 million. Pharmaceutical companies, including Pfizer and Merck, also donated $1 million each, as pharmaceuticals were among the product categories facing tariffs.

Retail stock trading platform Robinhood donated $2 million, and cryptocurrency firms Coinbase and Solana each gave $1 million. Additionally, despite their longstanding tensions with Trump, Big Tech companies Amazon, Google and Meta each donated $1 million.

Apple CEO Tim Cook, center, is pictured behind U.S. President Donald Trump, right, and U.S. Vice President JD Vance, left, after the two were sworn into office at an inauguration ceremony in the rotunda of the United States Capitol in Washington on Jan. 20. [REUTERS/YONHAP]

Individual donors included National Aeronautics and Space Administration administrator Jared Isaacman, who donated $2 million, Education Secretary Linda McMahon, who donated $1 million, and U.S. Treasury Secretary Scott Bessent, who donated $250,000. Commerce Secretary Howard Lutnick donated $1.047 million through the investment bank he founded, in apparent commemoration of the “47th President.”

Notably, McDonald’s and Coca-Cola also appeared on the major donor list, donating $1 million and $289,750 each. Trump is famously known for enjoying fast food.