President Lee Jae Myung has invited the chiefs of Korea’s top 10 chaebol to a special ceremony marking his appointment to be held at Gwanghwamun Square in Seoul on Friday.
According to industry sources, Samsung Electronics Chairman Lee Jae-yong, Hyundai Motor Group Executive Chair Chung Euisun, SK Group Chairman Chey Tae-won, LG Group Chairman Koo Kwang-mo, GS Group Chairman Huh Tae-soo, Hanwha Group Vice Chairman Kim Dong-kwan, HD Hyundai Vice Chairman Chung Ki-sun and Lotte Group Chairman Shin Dong-bin are expected to attend the event dubbed "People's Appointment Ceremony."
Leaders of the nation’s six major business associations, including Federation of Korean Industries Chairman Ryu Jin, will also be present.
Posco Group Chief Chang In-hwa, however, will not attend the event despite being invited. The steelmaker, grappling with a series of industrial accidents and heightened scrutiny, has reportedly opted to focus on safety management, conveying its decision to the presidential office.
While the chaebol chiefs will attend the appointment ceremony, only the heads of the six business organizations will participate in the foreign dignitaries’ dinner scheduled for later in the day.
The gathering underscores the administration’s outreach to the corporate sector ahead of key diplomatic and trade events.
Friday's ceremony comes as Lee did not have a formal inauguration ceremony. He took office immediately after winning the June 3 presidential election, which was triggered by the ouster of former President Yoon Suk Yeol.
The inauguration will take place at Gwanghwamun Square at 8 p.m. with more than 3,500 people in attendance.
Notably, the leaders of the four major conglomerates will join the Korea-US summit as part of the business delegation from Aug. 24 to 26 in Washington, D.C. Chiefs of Samsung, SK, Hyundai and LG and Hanwha are expected to accompany the president during the visit.
Earlier in August, just nine days into his term, President Lee hosted the chiefs of the five largest business groups and the heads of the six major economic organizations at the presidential office.
Ahead of upcoming bilateral tariff negotiations with the US, he also held separate talks with Samsung’s Lee, Hyundai’s Chung, SK’s Chey, LG’s Koo and Hanwha’s Kim to discuss pending trade and investment issues.
yeeun@heraldcorp.com
