Trump Jr. meets with top business execs in Seoul, but big 4 chiefs absent

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Trump Jr. meets with top business execs in Seoul, but big 4 chiefs absent

Published: 30 Apr. 2025, 19:55 Updated: 01 May. 2025, 19:46

Audio report: written by reporters, read by AI

Donald Trump Jr., the eldest son of U.S. President Donald Trump, disembarks from a private jet upon arriving at Gimpo Airport in Gangseo District, western Seoul, on April 29. [YONHAP]

Donald Trump Jr., the eldest son of U.S. President Donald Trump, held a series of one-on-one meetings with leading Korean business executives during his two-day visit to Seoul. However, the heads of Korea’s four major conglomerates — Samsung Electronics, SK Group, Hyundai Motor and LG Electronics— did not attend, scaling back the scope of the event.

According to industry insiders on Wednesday, Trump Jr. arrived the previous afternoon and conducted private talks with leaders of top-20 domestic firms at the Josun Palace hotel in Gangnam District, southern Seoul. The meetings took place inside a secured zone of the hotel in a “teatime” format, with each session lasting between 30 minutes and one hour. The schedule and movements were kept strictly confidential, with police deployed in and around the building to ensure security.

Among those who met Trump Jr. was Shin Yoo-yeol, executive vice president of Lotte Corporation and the eldest son of Lotte Group Chairman Shin Dong-bin. Vice President Shin reportedly returned early from an overseas trip with his father to attend the meeting. Discussions are believed to have focused on cooperation in Lotte’s new bio business.

Lotte Biologics, which acquired and expanded a plant in Syracuse, New York, in 2022, is expected to become the first Korean contract development and manufacturing organization to begin production in the United States.

Hanwha Group was represented by three members of the founding family — Vice Chairman Kim Dong-kwan, Hanwha Life Chief Global Officer Kim Dong-won and Hanwha Galleria Executive Vice President Kim Dong-seon, all sons of Chairman Kim Seung-youn. The trio reportedly introduced the group’s key businesses, including shipbuilding and defense, and sought future cooperation.

Other participants included CJ Group Chairman Lee Jay-hyun, Korean Air Chairman Cho Won-tae, LS Chairman Koo Ja-eun, Naver founder Lee Hae-jin and KB Financial Group Chairman Yang Jong-hee.

“We exchanged views on AI, data center technologies and global expansion, and had positive discussions on future cooperation,” said a Naver spokesperson.

Notably absent were Samsung Electronics Executive Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won and LG Group Chairman Koo Kwang-mo. Hyundai Motor Group Executive Chairman Euisun Chung is currently abroad.

“Even if Trump Jr. is the ‘real deal,’ it’s a sensitive time for trade negotiations with the U.S. government, so a direct meeting could be seen as inappropriate,” said an executive from one of Korea’s top-10 conglomerates. “Some may also be waiting for an opportunity to meet President Trump himself.”

Trump Jr.’s visit to Korea was arranged at the invitation of Shinsegae Chairman Chung Yong-jin, a longtime acquaintance. Trump Jr. is scheduled to attend a private dinner on Wednesday evening before departing later in the day.

Translated from the JoongAng Ilbo using generative AI and edited by Korea JoongAng Daily staff.
BY KIM KI-HWAN [[email protected]]