Comprehensive Korean media reports, lee Jae-yong jong-eun, president of Samsung Electronics, Choi Tae-won, president of SK Group, Chung Yi-sun, President of Hyundai Automotive Group, and Koo kwang-mo, president of LG Group, will gather this weekend at mar-a-lago, President Donald Trump’s private estate in Palm Beach, Fla. . South Korean media said this is the first time the head of South Korea’s four major groups to visit here at the same time. The weekend gathering at the white house was seen as“Symbolic and sensitive” given that negotiations on tariffs are still under way. South Korean media reminded that in September this year, “Arrest” after the incident of South Korean enterprises on the U. S. investment environment is still concerned.
The event was hosted by Masayoshi Son, chairman of softbank Group, Yonhap News Agency reported. He is pushing ahead with a $500bn AI infrastructure project with US companies OpenAI and Oracle. About 70 other companies will also attend the event to explore collaboration in cutting-edge areas such as AI and semiconductors.
Donald Trump will travel to mar-a-lago from May 17 to 19, and plans to communicate directly with Korean entrepreneurs while playing golf, USA Today reported. A South Korean presidential office source also confirmed that Donald Trump would hold a “Golf meeting” with representatives of South Korean companies.
South Korea’s“East Asia Daily” analysis, the meeting is both business activities, but also with a clear political implication. With the tariff talks between the US and South Korea yet to be “Finalized”, Donald Trump may use it to direct business to South Korean companies, the heads of South Korea’s big four groups may stress the importance of“Win-win” co-operation.
According to previous reports, South Korea and the United States reached a framework for a trade agreement at the end of July, but has yet to reach a final agreement on the specific implementation plan, the dispute focused on South Korea’s $350 billion investment commitments to the United States. South Korea stressed that it is difficult to follow the U. S. requirements in the form of a one-time cash contribution, the two sides continue to tug of war on this.
“We are working out the details, which shows that the two sides are trying to move forward on a technical level,” United States Secretary of the Treasury Yonhap News Agency told CNBC, south Korea’s delegation to the United States to advance the follow-up negotiations visited the White House Office of Management and Budget on the 16th, showing that working-level consultations are accelerating. However, on the same day, Donald Trump reiterated at a White House press conference that the country would pay $350bn in investment funds “In the form of an advance payment”. This statement and South Korea’s previous position in sharp contrast, is thought to be likely to add to the two sides’ negotiations variable.
South Korean media generally concerned about the“Sea Lake Manor meeting” for the stalled rok-us Economic and trade negotiations to bring a turning point. South Korean media comments that Donald Trump or South Korean investment plans for the American economy. But Korean business remains concerned about the stability of the US market. Especially after the September raid on a battery plant being built by Hyundai and LG New Energy and the arrest of 475 people (more than 300 of whom are Korean citizens) , many South Korean companies said they were“Very hesitant” to invest in the US. Choi Tin-chak, an executive of a large South Korean company, told the Global Times’ South Korean correspondent that South Korean companies have been expanding their investments in semiconductor, battery and automotive sectors in the United States in recent years, but the US keeps changing its subsidies and tariffs, making long-term planning difficult.