South Korean President Meets Business Leaders Ahead Planned Trump Summit

South Korean President Lee Jae Myung is preparing for his first summit with U.S. President Donald Trump, scheduled for August 25, 2025, in Washington. Ahead of the meeting, Lee convened with leading South Korean conglomerate executives, including Samsung Electronics Chairman Lee Jae-yong, LG Group Chairman Koo Kwang-mo, and SK Group Chairman Chey Tae-won, to strategize on boosting economic cooperation and outcomes. These business leaders represent key industries such as semiconductors, shipbuilding, automobiles, defense, biotechnology, and energy, which are central to the summit's agenda. The summit follows a recent trade agreement that lowered U.S. tariffs on South Korean goods from 25% to 15% in exchange for South Korea's commitment to invest $350 billion and purchase $100 billion in U.S. energy, with $150 billion earmarked for the shipbuilding initiative called "Make American Shipbuilding Great Again" (MASGA). South Korean business leaders expressed optimism that the agreement reduces uncertainty for exporters and will help restore growth momentum, with commitments to continued investment both domestically and in the U.S. Lee's trip also includes a stop in Tokyo for talks with Japanese Prime Minister Shigeru Ishiba ahead of the Washington summit.