South Korean Tycoons Seek Investments at US-Korea Summit

The heads of South Korea’s largest conglomerates, led by Samsung Group Chairman Lee Jae-yong, are headed to Washington, D.C., to participate in the Korea-US summit scheduled for August 24, 2025. This high-profile delegation aims to reinforce economic ties and explore new investment opportunities in key sectors such as semiconductors, batteries, shipbuilding, and automotive manufacturing.

Lee, who is also known internationally by his English name Jay Y. Lee, embarked on his journey on Sunday afternoon. He was joined by senior executives, including Vice Chairman Chung Hyun-ho, Samsung Heavy Industries Vice Chairman Choi Sung-an, Samsung C&T Chief Executive Oh Se-chul, and Samsung Electronics Global Business Cooperation CEO Kim Won-kyong. The presence of these leaders highlights the importance of the summit for South Korea’s economic strategy.

Other major business figures, such as SK Group Chairman Chey Tae-won, LG Group Chairman Koo Kwang-mo, and Hyundai Motor Group Chairman Chung Euisun, are also part of the delegation. Chey expressed his commitment to the summit, stating he would “do his best” as part of Korea’s official business representation.

Focused Approach to Investment Opportunities

This delegation is notably smaller than the one that attended a similar event in April 2023, which featured over 120 companies accompanying then-President Yoon Suk Yeol on his state visit to the US. This time, the South Korean government opted for a more streamlined group, emphasizing executives who can deliver tangible investment results.

President Lee Jae Myung, who arrived in Washington on Monday, is also accompanied by a delegation of 15 heads of Korean conglomerates. This includes HD Hyundai Vice Chairman Chung Ki-sun, Hanjin Group Chairman Cho Won-tae, and Doosan Enerbility Chairman Park Gee-won, among others. The presence of such influential figures signifies the high stakes involved in these discussions, particularly in light of ongoing trade negotiations.

Potential Announcements from Major Corporations

Investors are closely monitoring the summit for any announcements regarding new investment commitments from Samsung and other key players in the Korean economy. There is significant interest in how these companies plan to strengthen their operations in the US while potentially securing tax benefits and subsidies from American authorities.

Samsung is currently constructing a foundry plant in Taylor, Texas, with an investment pledge of $17 billion expected by 2030. The company previously raised its total investment commitment in the US to $37 billion last year. However, plans for new investments have not been revealed since Donald Trump resumed his presidency.

Industry analysts note that Samsung’s next steps will be crucial, particularly as Washington considers requiring equity stakes from chipmakers benefiting from subsidies under the CHIPS Act. During a recent earnings call, Samsung indicated plans to ramp up investments in the Taylor plant next year, signaling its intent to remain a significant player in the US semiconductor market.

In the automotive sector, Hyundai Motor Group announced a $21 billion investment in the US, targeting various industries, including automotive manufacturing, logistics, and steel, by 2028. Meanwhile, LG Energy Solution is actively establishing multiple battery manufacturing plants across the country, enhancing its footprint in the growing electric vehicle market.

Additionally, Hanwha Group and HD Hyundai are positioned to lead a significant $150 billion shipbuilding cooperation initiative called “Make American Shipbuilding Great Again” (MASGA). This initiative aims to revitalize the US shipbuilding industry and was a key factor in the recent Korea-US trade deal.

With the defense sector also in focus, the summit is expected to address issues related to warship repair and maintenance contracts, as well as the broader implications of Korean companies’ investments in US defense capabilities.

As the leaders of South Korea’s conglomerates engage with US officials, the outcomes of this summit could have lasting impacts on economic relations between the two nations, paving the way for enhanced collaboration in critical industries.