Euisun Chung Joins Washington... Last-Minute All-Out Effort Ahead of 'Tariff Deadline D-1'

Successive Trips to the U.S. by Business Leaders

Dong Kwan Kim: Shipbuilding, Jay Y. Lee: AI Chip Cooperation

Euisun Chung Offers 'Support' for Lowering Auto Tariffs

On the eve of the tariff negotiation deadline with the United States, the heads of major Korean conglomerates have been gathering in Washington, D.C. Following Jay Y. Lee, Chairman of Samsung Electronics, and Dong Kwan Kim, Vice Chairman of Hanwha Group, Euisun Chung, Chairman of Hyundai Motor Group, also boarded a flight to the U.S. The aim is to swiftly coordinate with the government and local contacts to reflect the progress of negotiations with the U.S. These business leaders, who hold key investment cards like expanded U.S. investment, are engaging in a blend of public and private diplomacy.

According to Hyundai Motor Group on the 30th, Chairman Chung boarded a flight to Washington, D.C., that afternoon. Chairman Chung plans to coordinate detailed aspects of the tariff negotiations with government officials and is also expected to examine the local market situation related to the U.S. import vehicle tariff of 25%. An industry insider said, "We understand that Chairman Chung will also meet with U.S. government officials."

Automobiles are considered a key item in the Korea-U.S. tariff negotiations. As Japan and the European Union (EU), which compete in the U.S. market, have lowered their auto tariffs to 15%, Korea could lose its largest export market if it cannot lower its tariffs to a similar level.

In March, Chairman Chung was the first among prominent domestic political and business figures to meet with U.S. President Donald Trump and announced an investment plan worth $21 billion (about ₩30 trillion). At the end of last year, Hyundai Motor Group bolstered its U.S. network by appointing, for the first time in the group's history, José Muñoz—a U.S. national—as Hyundai Motor's CEO, and Sung Kim, the former U.S. ambassador to Korea, as president of the automaker.

Industry officials also note that Chairman Chung may announce additional investments in addition to the expansion of Hyundai Motor Group Metaplant America (HMGMA) in Georgia and the construction of a steel mill in Louisiana. Hyundai Motor Group is also known to have made a significant contribution to the government-led U.S. investment plan with key domestic companies, which exceeds $100 billion (about ₩138 trillion).

On the 28th, Vice Chairman Dong Kwan Kim left for Washington, D.C. to further develop Korea's proposed 'MASGA' (Make American Shipbuilding Great Again) project. On the 29th, Chairman Jay Y. Lee joined him and was reported to propose AI semiconductor cooperation and additional investment in Samsung’s foundry (contract semiconductor manufacturing) plant in Taylor, Texas.

Jin Roy Ryu, Chairman of the Federation of Korean Industries (FKI), also visited the U.S. last week to meet with members of Congress and shore up efforts toward a tariff agreement.

Reporter: Bohyung Kim kph21c@hankyung.com