Moon to be accompanied by business delegation at inter-Korean summit

Posted on : 2018-09-14 17:14 KST Modified on : 2019-10-19 20:29 KST
Delegation to consist of heads of South Korea’s 4 largest chaebol companies
South Korean President Moon Jae-in with Samsung Electronics Vice Chairman Lee Jae-yong during a state visit to India on July 9. (Blue House photo pool)
South Korean President Moon Jae-in with Samsung Electronics Vice Chairman Lee Jae-yong during a state visit to India on July 9. (Blue House photo pool)

When South Korean President Moon Jae-in visits Pyongyang for the third inter-Korean summit that will be held in Pyongyang from Sept. 18 to 20, he will reportedly be accompanied by a business delegation consisting of the heads of the big four business organizations and the owners of South Korea’s four largest chaebol: Samsung Electronics Vice Chairman Lee Jae-yong, Hyundai Motor Company Vice Chairman Chung Eui-sun, SK Chairman Chey Tae-won and LG Chairman Koo Kwang-mo.

While the Blue House has yet to make an official announcement, the business leaders’ visit to the North is nearly certain, with several of the companies concerned acknowledging that the Blue House has asked them to accompany Moon to Pyongyang. One major question is how Lee Jae-yong will respond, considering that he has been convicted in a district and appeals court and is currently waiting for a Supreme Court ruling in connection with Park Geun-hye’s influence-peddling scandal. Samsung Electronics would not confirm whether Lee would be accompanying the president.

During a meeting with reporters on Sept. 13, a senior Blue House official responded to media reports that the four chaebol heads (Lee, Chung, Chey and Koo) would be part of Moon’s entourage.

“It’s true that we’ve extended invitations to the companies in question, but we’ll have to wait and see about the specific individuals,” the official said, adding that “the question of who will attend is up to the companies to decide, and they haven’t decided yet.”

Some of the companies admitted that they had received an invitation from the Blue House. “We received a request to visit North Korea, but it’s still being reviewed,” said a spokesperson for the Hyundai Motor Company. The Blue House reportedly made a general request for Hyundai’s participation without specifically naming Chung Eui-son or anyone else.

LG also said that “we do appear to have received a request about visiting North Korea from the Blue House.” LG is reportedly discussing the idea of having Koo Kwang-mo join the delegation himself.

While SK declined to provide any information, it’s reportedly in deliberations with the Blue House about the idea of Chey joining the trip.

Questions regarding Lee Jae-yong, who is currently on trial

Samsung would not divulge any information about whether the Blue House has asked it to participate in the delegation to the North. Considering that Lee is currently on trial, after being sentenced to prison by a lower court, the company appears to be concerned about criticism that Lee isn’t an appropriate choice for the president’s entourage to an official event like the inter-Korean summit.

Hardly any of the businesspeople who were part of the South Korean delegations to the inter-Korean summits held in July 2000 and Oct. 2007 were on trial or enmeshed in a social scandal. One exception was Hyundai Motor Group Chairman Chung Mong-koo, who went along for the 2007 summit despite being convicted in connection with a slush fund both in the initial trial and on appeal.

Chung was one of seventeen figures in the business world who traveled to North Korea during the 2007 inter-Korean summit, including LG Chairman Koo Bon-moo; Samsung Electronics Vice Chairman Yun Jong-yong; Chey, the SK chairman; Kim Gi-mun, chairman of the Kaesong Industrial Complex Tenant Company Association; POSCO Chairman Lee Koo-taek; and Hyundai Group Chairwoman Hyun Jeong-eun.

In 2000, 17 business figures visited North Korea: Kim Jae-cheol, chairman of the Korea International Trade Association; Son Byeong-du, permanent vice chairman of the Federation of Korean Industries; Lee Won-ho, permanent vice chairman of the Korea Federation of Small and Medium Business; Chung Mong-hun, director of Hyundai Asan; Yun, the Samsung Electronics vice chairman; Koo, the LG chairman; and then SK Chairman Son Kil-seung.

By Choi Hyun-june, staff reporter

Please direct comments or questions to [english@hani.co.kr]

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