Samsung Electronics vice chairman Lee Jae-yong and SK Group chairman Chey Tae-won have accepted invitations to attend the 2016 Boao Forum scheduled to kick off next month, in a move to expand business ties amid growing geopolitical tensions.

Samsung Electronics vice chairman Lee Jae-yong

According to industry sources, they will take part in the event known as the Asian version of Switzerland’s Davos Forum to share their views with other global business leaders as well as China’s high-profile political figures.

Lee, Samsung’s heir apparent, will be attending the forum for the third consecutive year, while SK chief Chey will be joining for the first time in four years.

Lee is expected to speak as a panelist for a session designed to discuss how to deal with lingering uncertainty over the global economy and attend a board meeting of the forum sponsored by the Chinese government. Lee took the board member position from Chey in 2013.

The annual forum kicks off on March 22 and runs for four days in Hainan province under the theme of “Asia’s New Future: New Dynamic, New Vision.”

The list of 200 attendees includes Qualcomm CEO Steven Mollenkopf, Toyota chairman Takeshi Uchiyamada and Pfizer CEO Ian Read.

Launched in 2001, the forum has served as a dialogue platform that brings together leaders of national government, business and academic circles in Asia and other regions.

Meanwhile, South Korean Prime Minister Hwang Kyo-ahn has reportedly deferred his decision to attend the forum, taking issue with China’s reserved response to an ongoing international drive to impose tough sanctions against North Korea’s missile launch.

By Cho Chung-un(christory@heraldcorp.com)