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Lutnick-hosted meeting with Korea, U.S. business leaders may turn tide in trade negotiations

Published: 29 Oct. 2025, 11:04

U.S. Commerce Secretary Howard Lutnick listens as President Donald Trump speaks in the Oval Office of the White House on Oct. 16 in Washington. [AP/YONHAP]

Korean and U.S. business leaders will meet in Gyeongju, North Gyeongsang, on Wednesday, hours after a bilateral summit between the two countries’ presidents to discuss expanding economic cooperation in sectors from artificial intelligence to energy, in talks that could shape the course of ongoing trade negotiations.

The meeting, hosted by U.S. Commerce Secretary Howard Lutnick, will take place on Wednesday evening shortly after the leaders’ summit, a source with knowledge of the matter said.

Korean Industry Minister Kim Jung-kwan and major company chiefs from both countries will attend. From Korea, Samsung Electronics Executive Chairman Lee Jae-yong, SK Chairman Chey Tae-won, Hyundai Motor Executive Chair Euisun Chung and LG Chairman Koo Kwang-mo will join the event along with other business heads.

An industry official said the U.S. side selected and contacted the Korean firms directly.

“Rather than choosing by market size or rankings, they picked firms that Washington is most interested in,” the source said.

The U.S. companies were also chosen based on their ties to bilateral projects, effectively representing Lutnick’s priority list for Korean investment in the United States.

Attendees arrive for the Asia-Pacific Economic Cooperation (APEC) CEO Summit in Gyeongju, North Gyeongsang, on Oct. 29. [AP/YONHAP]

AI firms will be a focus. Samsung Electronics and SK Group were invited for their production of high bandwidth memory chips used in AI systems.

Amazon Web Services (AWS) CEO Matt Garman will attend the event. SK Telecom is working with AWS on a 7 trillion won ($5 billion) data center project in Ulsan.

The shipbuilding industry, which has emerged as a key point in trade talks, will also be represented by Hanwha Group Vice Chairman Kim Dong-kwan, HD Hyundai Chairman Chung Ki-sun and Samsung Heavy Industries Vice Chairman Choi Sung-an.

Seoul drew Washington’s attention in July by proposing the “Make American Shipbuilding Great Again” initiative to revitalize the United States' maritime sector.

In the energy sector, Glenfarne CEO Brendan Duval will join the reception. Glenfarne is involved in the Alaska liquefied natural gas (LNG) project, where the United States has urged Korean participation.

Posco Holdings Chairman Chang In-hwa will attend after Posco International signed a preliminary LNG deal with Glenfarne in September. GS Group Chairman Huh Tae-soo was also invited amid talks to expand imports of U.S. crude oil.

SK Group Chairman Chey Tae-won, left, speaks during a meeting between President Lee Jae Myung and OpenAI CEO Sam Altman at the presidential office in Yongsan District, central Seoul, on Oct. 1. Samsung Electronics Executive Chairman Lee Jae-yong is seen on the right. [YONHAP]

Defense cooperation will be represented by Jon Rambeau, president of U.S. contractor L3Harris Technologies, which has provided defense technology to Korea for over 25 years. Hanjin Group Chairman and Korean Air CEO Cho Won-tae will attend after the airline, with L3Harris, won a Defense Acquisition Program Administration contract to supply new airborne control aircraft.

In materials, ReElement Technologies CEO Mark Jensen will attend after signing a deal with Posco International to build an integrated rare earth and permanent magnet plant in the United States. The United States is also eyeing cooperation with Korea Zinc, the country’s only major strategic mineral refining firm, with Chairman Choi Yun-beom also set to attend.

“The tariff talks are not confined to intergovernmental discussions but are closely linked with private-sector cooperation," said a senior government source from the ruling Democratic Party. "The Lutnick-hosted CEO reception should be seen as part of the broader tariff negotiation process.”

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY YOON SUNG-MIN, NA SANG-HYEON [[email protected]]