South Korea's Lee meets business leaders to discuss strategy for Trump summit
Lee and Trump are scheduled to hold their first summit in Washington on August 25, with talks expected to focus on strengthening the alliance and advancing an economic security partnership.
The agenda includes building on a tariff deal reached last month, under which Trump said the US would impose a 15 percent levy on South Korean imports in exchange for avoiding higher tariffs, while Seoul pledged $350 billion in US investments.
Uncertainty remains, however, as no written agreement has been signed. Questions linger over the scope of the fund and whether defense cost-sharing might be tied in, given Trump's long-standing calls for Seoul to contribute more to the US troop presence.
The business leaders attending Tuesday's meeting represented industries seen as critical to manufacturing cooperation with the US, including semiconductors, shipbuilding, automobiles, defense, pharmaceuticals, and energy. Shipbuilding cooperation was raised, but presidential spokesperson Kang Yu-jung declined to give details.
Executives including Samsung Electronics Chairman Jay Y. Lee, SK Group Chairman Chey Tae-won, LG Group Chairman Koo Kwang-mo, and senior officials from Hyundai Motor Group and Hanwha Group were among those present, according to Yonhap News Agency. Lee thanked them for their role in helping secure the tariff deal and urged them to deliver 'practical results' during the upcoming trip to Washington.
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