The heads of South Korea’s four major conglomerates plan to visit China next month as part of an economic delegation.
Quoting sources from South Korea’s business community on Monday (December 22), Yonhap News Agency reported that Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, Hyundai Motor Group Chairman Chung Eui-sun, and LG Group Chairman Koo Kwang-mo are very likely to join the economic delegation to China early next month.
Quoting sources from South Korea’s business community on Monday (December 22), Yonhap News Agency reported that Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, Hyundai Motor Group Chairman Chung Eui-sun, and LG Group Chairman Koo Kwang-mo are very likely to join the economic delegation to China early next month.
The economic delegation is being organized by the Korea Chamber of Commerce and Industry, which is planning to arrange a visit of representatives from around 200 companies to China. Applications from companies are currently being accepted, with the deadline for applications set for Tuesday (23rd). The official list of delegation members will be confirmed after review. The specific itinerary and list of members may be affected by whether or not a South Korea-China summit meeting takes place.
The delegation will be led by Chey Tae-won, who also serves as the president of the Korea Chamber of Commerce and Industry. Chey visited China in October of this year, where he held consultations with Chinese counterparts regarding the successful hosting of the APEC Business Leaders Summit and the expansion of South Korea-China economic cooperation.
The delegation will be led by Chey Tae-won, who also serves as the president of the Korea Chamber of Commerce and Industry. Chey visited China in October of this year, where he held consultations with Chinese counterparts regarding the successful hosting of the APEC Business Leaders Summit and the expansion of South Korea-China economic cooperation.
It is reported that during the visit to China, the delegation will attend the Korea-China Business Forum, sign memoranda of understanding (MOUs) on economic cooperation, hold one-on-one business meetings, and participate in other activities.
At the business forum, the two sides will discuss ways to deepen economic cooperation in areas including manufacturing innovation and supply chains, new consumer goods markets, as well as service and content industries. The Korea Trade-Investment Promotion Agency (KOTRA) will also arrange one-on-one business meetings for companies interested in entering the Chinese market.
It is worth mentioning that this will be the first economic delegation visit organized by the Korea Chamber of Commerce and Industry to China in six years, since former President Moon Jae-in visited China for the 8th South Korea-China-Japan leaders’ meeting in December 2019.
At that time, more than 100 top executives, including then-president of the Korea Chamber of Commerce and Industry Park Yong-man, Samsung Electronics Vice Chairman Yoon Boo-keun, and Hyundai Motor President Kong Young-woon accompanied Moon on his visit.
At the business forum, the two sides will discuss ways to deepen economic cooperation in areas including manufacturing innovation and supply chains, new consumer goods markets, as well as service and content industries. The Korea Trade-Investment Promotion Agency (KOTRA) will also arrange one-on-one business meetings for companies interested in entering the Chinese market.
It is worth mentioning that this will be the first economic delegation visit organized by the Korea Chamber of Commerce and Industry to China in six years, since former President Moon Jae-in visited China for the 8th South Korea-China-Japan leaders’ meeting in December 2019.
At that time, more than 100 top executives, including then-president of the Korea Chamber of Commerce and Industry Park Yong-man, Samsung Electronics Vice Chairman Yoon Boo-keun, and Hyundai Motor President Kong Young-woon accompanied Moon on his visit.
In an interview with Yonhap News TV on Monday, South Korean Foreign Ministry spokesperson Cho Hyun said that South Korea is pushing for a summit meeting between the leaders of South Korea and China early next year. If the summit takes place, the two sides will exchange views on issues such as promoting peace and stability in Northeast Asia.