A South Korean delegation will visit the United States this month to bolster cooperation between the two countries after US President Donald Trump announced tariffs against its biggest trading partners, a local business lobby said Tuesday.
The Korean delegation, which is led by Korea Chamber of Commerce and Industry Chairman Chey Tae-won -- who is also the chairman of SK Group -- and includes the chiefs of other conglomerates, such as HS Hyosung Corp. Vice Chairman Cho Hyun-sang, is scheduled to travel to Washington, DC, on Feb. 19 and 20 to meet with US political and business leaders and discuss ways to enhance bilateral relations.
The visit of the Korean business delegation will mark the first since Trump’s return to the White House on Jan. 20.
The trip was announced amid growing concerns that export-dependent Korea could suffer a blow from Trump's aggressive tariff actions that started last week with China, Mexico and Canada.
Although the US president agreed to pause the implementation of planned tariffs on imports from Canada and Mexico on Monday, uncertainty remains for Korea as it is still heavily reliant on exports to the US and China.
Lee Sung-woo, head of the KCCI's international trade division, stressed that Korea has invested some $160 billion in the US from the start of Trump's first term in 2017 to 2023, noting it was the largest amount among major countries and created 830,000 jobs. “We will actively respond to the US policy of imposing tariffs on countries that have trade surpluses with the US by highlighting the contributions that Korean companies have made to the US economy,” he said.
The KCCI plans to host a "Korea-US Business Night" gala dinner event at the Great Hall of the Thomas Jefferson Building in Washington, DC, on Feb. 19.
The event will be attended by about 100 key figures from both countries, including US senators and members of the House of Representatives as well as high-ranking government officials who have close ties with Korea.
The gathering is expected to serve as a venue for building networks to strengthen economic cooperation between Korea and the US.
Also included in the invitation list are governors and key officials from states where Korean companies' investments are concentrated, as they are scheduled to visit Washington, DC on the occasion of the annual winter meeting of the National Governors Association slated for Feb. 20-22.
On Feb. 20, a series of meetings with key US government officials has been arranged. It is expected to expand communication channels between the two countries and lay the foundation for discussions on inter-governmental economic cooperation through meetings with high-ranking officials of the second Trump administration, including White House officials and Trump's Cabinet nominees who have been confirmed by the Senate, according to the KCCI.
