Seoul, Aug 19 (IANS) President Lee Jae Myung is set to hold a meeting on Tuesday with heads of major business conglomerates who will accompany him on his trip to Washington for his planned summit talks with US President Donald Trump, the presidential office said.
Lee is set to meet with executives from key industries, including semiconductors, shipbuilding, automobiles, defence, biotechnology, and energy, which are considered central to industrial cooperation and agenda items for the upcoming summit with U.S. President Donald Trump on Aug. 25 in Washington, reports Yonhap news agency.
Among them are Samsung Electronics Chairman Lee Jae-yong, LG Group Chairman Koo Kwang-mo and SK Group Chairman Chey Tae-won, who also heads the Korea Chamber of Commerce and Industry (KCCI).
Others attendees include Korean Air Chief Executive Officer Cho Won-tae, Hanwha Group Vice Chairman Kim Dong-kwan, Hyundai Motor Group Vice Chairman Jang Jae-hoon, Doosan Enerbility Chairman Park Gee-won, and Celltrion Chairman Seo Jung-jin.
Lee’s trip will mark his first summit with Trump and also includes a two-day stop in Tokyo for talks with Japanese Prime Minister Shigeru Ishiba ahead of his visit to Washington.
The visit follows a recent trade agreement between Seoul and Washington that reduced the planned U.S. tariffs from 25 percent to 15 percent in exchange for South Korea’s commitment to $350 billion in investment and $100 billion in U.S. energy purchases.
Of the pledged investment, $150 billion will be allocated to Seoul’s shipbuilding cooperation initiative, dubbed “Make American Shipbuilding Great Again” (MASGA).
Trump may want a success from next week’s summit with South Korean President Lee Jae Myung given that his high-profile talks with Russian President Vladimir Putin last week ended without a concrete deal, a U.S. expert said.
Victor Cha, president of the Geopolitics and Foreign Policy Department at the Center for Strategic and International Studies (CSIS), made the remarks during a CSIS podcast, as Trump is set to meet with Lee at the White House next Monday, after he failed Friday to reach a deal with Putin over the war in Ukraine
“The U.S. president probably wants a success next week. He doesn’t like failure to be followed by failure. So, he’s probably going to want some sort of success next week,” Cha said.
“And that may bode well for the meeting in addition to the fact that Koreans have put a lot on the table already, with US$350 billion plus the shipbuilding,” he added, referring to last month’s trade deal under which Seoul agreed to invest $350 billion in the U.S., among other things.
—IANS
na/
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by BhaskarLive.in and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of BhaskarLive.in We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, BhaskarLive.in takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.