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Lee to hold post-APEC meeting with conglomerate leaders to plan next steps

Published: 07 Nov. 2025, 17:09 Updated: 07 Nov. 2025, 19:46

President Lee Jae Myung, right, greets Samsung Electronics Executive Chairman Lee Jae-yong during a meeting with Nvidia CEO Jensen Huang, not pictured in this photo, at the Hwabaek International Convention Center, the venue for the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju, North Gyeongsang, on Oct. 31. [YONHAP]

President Lee Jae Myung will meet with the heads of Korea’s largest conglomerates at the presidential office on Monday to discuss ways to build on the recent Korea-U.S. trade accord and promote new domestic investment and job growth, according to officials familiar with the meeting.

Those expected to attend include Lee Jae-yong, chairman of Samsung Electronics; Chey Tae-won, chairman of SK Group; Euisun Chung, executive chair of Hyundai Motor Group; Koo Kwang-mo, chairman of LG Group; Kim Dong-kwan, vice chairman of Hanwha Group; Chung Ki-sun, chairman of HD Hyundai Group; and Seo Jung-jin, chairman of Celltrion.

The meeting follows the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju, North Gyeongsang, held from Oct. 31 to Nov. 1, during which Seoul and Washington announced a finalized Korea-U. S. trade agreement. It is said to be a gesture of appreciation from President Lee for the business community’s support throughout the summit and trade negotiations.

Several of the conglomerate leaders took part in the APEC CEO Summit ahead of the main event, meeting with U.S. Secretary of Commerce Howard Lutnick and others to provide informal backing for the tariff discussions.

Hanwha and HD Hyundai have been leading a joint shipbuilding initiative between the two countries, dubbed MASGA, short for “Make American Shipbuilding Great Again.” Biopharmaceutical company Celltrion in September acquired an Eli Lilly manufacturing plant in the United States for 1.04 trillion won ($713 million).

Follow-up discussions on the tariff agreement are also expected. Under the deal, the two countries agreed to reduce the U.S. tariff on Korean-made vehicles from 25 percent to 15 percent. In exchange, Korea will commit to a $350 billion investment package in the United States, with $200 billion in direct cash investment capped at $20 billion per year.

During the APEC meeting in Gyeongju, Hyundai Motor Group Executive Chair Eui-sun Chung expressed gratitude to President Lee, saying “We received great support from the government this time, and we will make sure to repay that help.”

Observers expect that some business leaders may announce new domestic investment or hiring plans during the meeting. In September, Samsung pledged to hire 60,000 new employees over the next five years, and other large companies have also unveiled large-scale employment initiatives.

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 NA SANG-HYEON,PARK YOUNG-WOO [[email protected]]