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On the 29th, at the Sangui Hall in Jung-gu, Seoul, Choi Tae-won, the newly appointed chairman of the Korea Chamber of Commerce and Industry, is delivering a greeting during the "Non-face-to-face Town Hall Meeting" held in lieu of the inauguration ceremony. March 29, 2021 Photo by Joint Press Corps

[Asia Economy Reporter Hwang Yoon-joo] Chey Tae-won, chairman of SK Group and leader of the Korea Chamber of Commerce and Industry, will accompany the economic delegation at the US-Korea summit on the 21st, marking his full-scale entry into economic diplomacy. As Korea's key industries such as semiconductors, batteries, and bio emerge as security assets amid the political dynamics of the US-China hegemonic competition, Chey’s role is being recognized as increasingly important.

According to SK Group on the 20th, Chey departed for the United States the previous day to join the economic delegation for the US-Korea summit. This overseas trip is his first in one year and three months since attending the World Economic Forum (WEF, Davos Forum) held in Switzerland last January.

During his visit to the US, Chey plans to actively engage in economic diplomacy, including attending meetings between business leaders of both countries to discuss vaccine cooperation, semiconductors, batteries, and other economic issues. The fact that SK Innovation, responsible for SK Group’s battery business, is scheduled to sign a memorandum of understanding (MOU) with US automaker Ford in the afternoon to establish a joint venture is also interpreted as support from the perspective of economic diplomacy.

Chey will also attend the “US-Korea Business Meeting” hosted by the US Department of Commerce, exchanging views on economic issues and ESG (environment, social, and governance) matters, thereby strengthening communication between the business communities of both countries. It is known that Kim Il-beom, vice chairman of SK’s SUPEX Council, who has followed an elite career path including serving as director of the North America Division 2 at the Ministry of Foreign Affairs, will assist Chey during this event.

Following this, Chey plans to travel to Georgia to welcome President Moon together with Kim Joon, president of SK Innovation. SK Innovation and LG Energy Solution are the largest investors in the battery business in the United States. It is expected that investment plans for the third and fourth plants will also be announced at this event.

A business community official said, “Chairman Chey Tae-won first proposed ‘Korea Night’ at the Davos Forum, which grew into a government-hosted event originally created by SK, and he also led ESG management such as ‘social value.’ His global political and business networks in the US, Europe, and elsewhere over the past decade will shine during this trip.”

This content was produced with the assistance of AI translation services.