South Korean businesses' spending on lobbying in the United States has more than doubled over the past five years, data showed Wednesday, in line with their efforts to address Washington's industrial policies.
Major South Korean companies spent a combined $35.32 million on lobbying activities in the US last year, up 41.8 percent from a year earlier amid the US presidential election, according to the data compiled by industry tracker CEO Score.
The amount marked a sharp rise from $15.53 million in 2020.
In 2024, seven South Korean conglomerates, including Samsung, Hyundai Motor and Hanwha, each spent more than $1 million on lobbying activities.
Samsung Group, which holds Samsung Electronics Co. and Samsung SDI Co. under its wing, spent $8.62 million last year, the largest amount among all South Korean conglomerates.
SK Group spent $7.08 million, followed by Hanwha Group with $6.05 million.
Hyundai Motor Group and Coupang spent $4.78 million and $3.31 million, respectively, on lobbying, the data showed. LG Group spent $1.34 million.
"South Korean companies apparently expanded lobbying expenditures to prepare for political risks during the US presidential election, along with efforts to address US industrial policies," the industry tracker said. (Yonhap)
