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Business delegation finalized for U.S. summit

June 24,2017
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Fifty-two businessmen including top executives from key conglomerates will join President Moon Jae-in on his first trip to the United States next week, said the Korea Chamber of Commerce and Industry on Friday.

The final list for Moon’s business delegation includes Samsung Electronics Vice Chairman Kwon Oh-hyun, Hyundai Motor Vice Chairman Chung Eui-sun, SK Chairman Chey Tae-won and LG Vice Chairman Koo Bon-joon.

“We picked the delegation based on the size of the respective firms’ trade volume with the U.S., business performances and potential for cooperation in next-generation business fields,” said the chamber in a statement. “We limited participation of companies that were involved in controversies over violation and manipulation of laws.”

With its U.S. counterpart, the KCCI will host a Korea-U.S. business summit in Washington D.C. on June 28.

By company size, participants include 10 large companies, 14 mid-sized (with assets between 500 billion won and 5 trillion won), 23 small-to- medium-sized (with assets less than 500 billion won) and two public companies.

Other delegates from conglomerates include: Huh Chang-soo, chairman of GS Group, who also leads the Federation of Korean Industries, a lobbying group for big business; Shin Hyun-ho, CEO of Hanwha Techwin; Park Jeong-won, chairman of Doosan; Cho Yang-ho, chairman of Hanjin Group; Sohn Kyung-shik, co-chairman of CJ Group; and Park Yong-maan, chairman of the KCCI.

KT Chairman Hwang Chang-kyu and Posco Chairman Kwon Oh-joon were taken off the list, which came as a surprise. No one from Lotte Group will attend either.

Two CEOs of Korean offices of American companies - James Kim, CEO of GM Korea, who also chairs the American Chamber of Commerce in Seoul, and Amit Laroya, CEO of 3M Korea - will join the delegation.

From the start-up sector, Kim Bong-jin, CEO of Woowa Brothers, and Lee Seung-gun, CEO of Vviva Republica, will take part. Woowa Brothers is the operator of food delivery app Baedal Minjok, and Viva Republica is behind the peer-to-peer money transfer app Toss.

The KCCI took over the role of accepting applications from local enterprises. In the past, that role was performed by the Federation of Korean Industries, which the Moon administration perceives as a hotbed of corruption after its central role in the corruption and power abuse scandal that toppled President Park Geun-hye.

BY SEO JI-EUN [seo.jieun@joongang.co.kr]