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Top Korean chaebol leaders to accompany Yoon on state visit to US

April 14, 2023 - 15:53 By Im Eun-byel

From left: Lotte Group Chairman Shin Dong-bin, LG Group Chairman Koo Kwang-mo, Hyundai Motor Group Executive Chair Chung Euisun, SK Group Chairman Chey Tae-won and Samsung Electronics Executive Chairman Lee Jae-yong attend a Korea-Japan business roundtable held in Tokyo on March 17 upon President Yoon Suk Yeol's summit there with his Japanese counterpart Fumio Kishida. (Yonhap)

Top South Korean chaebol leaders are set to join President Yoon Suk Yeol on his state visit to the US later this month, according to industry sources on Friday.

Yoon is set to embark on a state visit to the US for a summit with US President Joe Biden on April 26.

Upon Yoon’s visit to the US, the Federation of Korean Industries, one of the nation’s major business lobby groups, plans to arrange a business delegation consisting of some 70 business leaders, including chiefs of the nation’s top four chaebol groups – Samsung Electronics Executive Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, Hyundai Motor Group Executive Chair Chung Euisun and LG Group Chairman Koo Kwang-mo.

The four business leaders, along with Shin Dong-bin, chairman of Lotte Group, the fifth-largest conglomerate, accompanied Yoon on his visit to Japan in March. They also attended a state dinner hosted by Yoon in Seoul when Biden visited Korea in May 2022.

During the Yoon-Biden summit in the US, the business delegation is expected to seek investment and networking opportunities, especially in high-tech fields such as semiconductors, batteries, electric vehicles and more.