Seoul
South Korean President Lee Jae Myung on Sunday reaffirmed his government’s commitment to minimizing barriers for corporate activity, during a high-level meeting with leaders of the nation’s top conglomerates. The discussion comes two days after Seoul and Washington announced a joint fact sheet outlining new bilateral trade and security agreements, including South Korea’s pledge to invest USD 350 billion in the U.S. in return for a tariff reduction from 25 percent to 15 percent.
The government’s key role is to ensure companies can operate freely and creatively across global markets, President Lee told the participants, according to the presidential office. He emphasized that while securing tariff concessions was a very difficult process, the outcome reflected a successful strategic negotiation amid shifting global economic conditions.
Attendees included Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, Hyundai Motor Group Executive Chair Euisun Chung, LG Group Chairman Koo Kwang-mo, and top executives from HD Hyundai and Hanwha. President Lee urged them to adapt swiftly to the new trade framework and seize emerging opportunities.
What is more important is the future, he said, noting that companies play a frontline role in sustaining livelihoods and driving economic growth. He pledged government support, including deregulation and rapid resolution of corporate challenges.
Addressing concerns that massive U.S. investments could affect domestic priorities, Lee called on companies to maintain strong commitments at home. In response, industry leaders announced plans to boost hiring and expand local investments.
Samsung’s Lee revealed plans to hire 60,000 workers domestically over the next five years and expand R&D and facility spending. SK Group’s Chey announced a projected 600 trillion won (USD 412.2 billion) investment in its Yongin semiconductor complex. Hyundai Motor Group plans to invest 125 trillion won by 2030 and hire 10,000 employees next year, up from 7,200 this year. Hanwha also confirmed a 7 trillion won investment in its U.S. shipyard, expected to open new avenues for Korean shipbuilding suppliers.
The meeting underscored the administration’s dual focus: expanding global trade influence while safeguarding domestic economic strength.
