Credit: Public domain.
On November 16, President Lee Jae-myung 이재명 대통령 met with seven leaders of South Korea’s largest companies - Samsung Electronics 삼성전자, Hyundai Motors 현대자동차, SK Group SK 그룹, LG Group LG 그룹, Hanwha Group 한화그룹, Celltrion 셀트리온 and HD Hyundai HD현대 - to urge more domestic investment in the wake of tariff negotiations with the United States that compelled South Korea’s largest companies to invest in the US.
Lee Jae-yong 이재용 of Samsung Electronics pledged KRW 450t (USD 308b) in investment, including a new semiconductor production line in the company’s Pyeongtaek 평택 factory. Jeong Eui-seon 정의선 of Hyundai Motors said the company will invest KRW 125t (USD 86b) in the domestic market over the next five years, a 40% increase relative to the previous five years.
