Hyundai Motor Donates About 1.5 Billion KRW to Trump Inauguration... Will Chung Eui-sun Attend?

With the inauguration of U.S. President Donald Trump scheduled for the 20th (local time), news of Hyundai Motor Company's donation to the inauguration fund has drawn attention to whether the heads of major domestic conglomerates will attend the inauguration ceremony.

Hyundai Motor Group Chairman Chung Eui-sun is reportedly not attending the inauguration, but interest is focused on whether Chairman Chung and President-elect Trump will meet in the future.

The U.S. economic daily The Wall Street Journal (WSJ) reported on the 11th that Hyundai Motor Group officials have been in continuous contact with Trump’s team since the November 5 presidential election last year, and that they donated $1 million (approximately 1.47 billion KRW) to the inauguration fund through their U.S. subsidiaries.

This is the first time Hyundai Motor has donated to a U.S. presidential inauguration fund. Previously, global automakers such as GM, Ford, and Toyota also disclosed their donations.

Additionally, WSJ reported that Hyundai Motor Group is seeking to arrange a meeting with President-elect Trump at the Mar-a-Lago resort in Palm Beach, Florida, or at the White House in the future.

Accordingly, there is growing interest in whether Chairman Chung, who leads Hyundai Motor Group, will attend Trump’s inauguration or meet with President-elect Trump later.

Regarding this, a Hyundai Motor official stated, "We have the opportunity to cooperate with the new administration, which has policies to support U.S. manufacturing, protect supply chains, and promote innovation," adding, "However, Hyundai Motor Group Chairman Chung Eui-sun will not attend the inauguration."

However, WSJ mentioned that Vice Chairman Jang Jae-hoon or Hyundai Motor’s first foreign CEO, Jose Munoz, might attend the inauguration or related events. There is also speculation that Hyundai Motor’s President of External Cooperation, Sung Kim, will attend.

Hyundai Motor Group Chairman Chung Euisun is delivering a New Year's address at the '2025 Hyundai Motor Group New Year's Meeting' held on the 6th at Hyundai Motorstudio in Goyang, Gyeonggi Province. Photo by Kim Hyunmin

The WSJ explained that companies donating around $1 million to the inauguration fund can receive tickets allowing about six people to attend the dinner held the day before the inauguration.

If a meeting between Chairman Chung and President-elect Trump is arranged, there is also interest in whether Hyundai Motor Group will make additional investments in the U.S.

Since 2022, Hyundai Motor Group’s total investment in the U.S. has reached $17.85 billion (approximately 26 trillion KRW).

Moreover, with President-elect Trump likely to implement policies encouraging local production through measures such as universal tariffs, the possibility of additional investments by Hyundai Motor Group is considered high.

Chairman Chung revealed a $10.5 billion (approximately 15 trillion KRW) investment plan in the U.S. after a private meeting with U.S. President Joe Biden during Biden’s visit to Korea in May 2022.

This outlook is further strengthened as heads of foreign companies have been announcing local investment plans following meetings with President-elect Trump.

Masayoshi Son, Chairman of Japan’s SoftBank Group, announced a $100 billion (approximately 143.6 trillion KRW) investment plan in the U.S. after a direct meeting with Trump.

Meanwhile, besides Chairman Chung, it is reported that the likelihood of the heads of the four major groups?Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, and LG Group Chairman Koo Kwang-mo?attending the inauguration is low.

These companies are said to be mobilizing their overseas government relations teams to seek meetings with President-elect Trump and other U.S. administration officials.

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