Choi Tae-won, Leveraging 15 Years of US Connections... Wrapping Up Schedule in the Southern US

Successful Debut in Economic Diplomacy
Business Community: "Elevates the Status of the Korean Economy"
Networking Efforts in the US Since 2006... Strengthening Ties with Washington's Political and Business Circles
Ministry of Foreign Affairs and Others Focus on Recruiting Domestic Talent
Discussions on Practical Cooperation at the Private Sector Level

SK Chairman Chey Tae-won is attending the Korea-US Business Roundtable event held at the US Department of Commerce in Washington on the morning of the 21st (local time), with President Moon Jae-in in attendance. Photo by Yonhap News

[Asia Economy Reporter Hwang Yoon-joo] As President Moon Jae-in returns home after a 5-day, 3-night visit to the United States, SK Group Chairman Chey Tae-won, who accompanied him as part of an unofficial economic delegation, continues his remaining schedule in the U.S., enhancing his presence as a representative of the business community.

According to SK Group and business circles on the 24th, Chairman Chey, currently staying in Georgia, plans to move to Washington to meet with key business figures and organizations in the U.S. to discuss and plan practical private-sector cooperation measures such as investment and R&D. It is reported that the economic diplomacy will conclude with a focus on three key areas agreed upon by South Korea and the U.S.: semiconductors, batteries, and bio sectors.

Along with this, Chairman Chey intends to complete SK Group’s external schedules that were canceled or scaled down last year due to the COVID-19 pandemic during the remaining period. In the business community, his networking in the U.S. built over more than 15 years is regarded as a hidden key to the success of this Korea-U.S. summit.

Since 2006, Chairman Chey has been actively engaged in global networking in the U.S., China, and other countries. His U.S. networking is especially known for being meticulously built across various fields including politics, business, and social enterprises. He has established ties with prominent U.S. think tanks related to politics, diplomacy, and security such as the Center for Strategic and International Studies (CSIS) and the Brookings Institution, and provided significant support for the establishment of a Korean Studies research position. During this Korea-U.S. summit, CSIS demonstrated a close relationship with SK by announcing a joint research project with the Choi Jong-hyun Academy prior to a meeting with Minister Moon Seung-wook of the Ministry of Trade, Industry and Energy.

Chairman Chey’s U.S. networking took a different turn after late 2018. While previously focusing on relationships with major think tanks influencing U.S. political and economic circles, he then concentrated on networking to promote SK. The ‘SK Night’ event also began as part of this effort. This was around the time when SK㈜ started aggressively expanding its business in the U.S., beginning with the acquisition of the American pharmaceutical company Empec and the establishment of SK Innovation’s battery plant.

Recruiting former Ministry of Foreign Affairs North America Division 2 Director Kim Il-beom as Vice President of SK’s SUPEX Council Global Growth Committee was also in line with this purpose. Vice President Kim is a figure who served as presidential interpreter for the Kim Dae-jung, Roh Moo-hyun, and Lee Myung-bak administrations and is considered an elite talent within the Ministry of Foreign Affairs. It is said that Vice President Kim, who has connections with the Biden network, worked quietly during this visit. He is known to have ties with then-Vice President Biden while serving as interpreter for former President Lee Myung-bak and former U.S. President Barack Obama.

A business official said, "Thanks to Chairman Chey’s U.S. networking built over more than 15 years in Washington, he has properly demonstrated what ‘economic diplomacy’ means," adding, "The status of the Korean business community in the U.S. has also risen accordingly."

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