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4w ago

Lee Jae-myung Seeks Economic Boost from Chaebols as He Deepens Global Partnerships

He convened leaders including Samsung, Hyundai, SK, LG, Lotte to confront U.S. tariff challenges through deregulation, flexible trade negotiations, corporate support measures

New South Korean President Lee Jae Myung attends a Memorial Day ceremony in Seoul on June 6, 2025.
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President Lee Jae-myung (C, rear) attends a meeting with a group of business leaders at the presidential office in Seoul on June 13, 2025. Also at the meeting were LG Group Chairman Koo Kwang-mo (far L), Samsung Electronics Co. Chairman Lee Jae-yong (2nd from L), Hyundai Motor Group Executive Chairman Euisun Chung (2nd from R) and Lotte Group Chairman Shin Dong-bin. (Pool photo) (Yonhap)

Overview

  • Lee pledged to lift unnecessary regulations and accelerate flexible trade talks after meeting heads of the country’s five largest conglomerates.
  • He vowed to restore inter-Korean communication channels and rebuild a DMZ crisis management system to prevent accidental clashes.
  • In talks with Vietnam’s president, Lee agreed to deepen cooperation in high-speed rail and nuclear energy and accepted an invitation to visit Hanoi.
  • Lee secured commitments from Australia to expand partnerships in defense, clean energy and critical minerals and to coordinate on North Korea nuclear discussions and the Gyeongju APEC summit.
  • He is set to meet President Trump at the June 15–17 G7 Summit in Canada to press for tariff relief and discuss regional security including denuclearization efforts on the Korean Peninsula.