Lee Jae-yong, Top Four Group Leaders Embark on 'Sales Diplomacy' with President Lee's State Visit to India

Euisun Chung and Koo Kwangmo Also Depart
Vietnam Schedule to Follow After India
Chairman Chey Taewon Joins Vietnam Delegation

Business leaders such as Lee Jae-yong, Chairman of Samsung Electronics, Euisun Chung, Executive Chair of Hyundai Motor Group, and Koo Kwang-mo, Chairman of LG Group, departed on the 19th as part of the economic delegation accompanying President Lee Jae-myung on his state visit to India and Vietnam.

Chairman Lee appeared at the Seoul Gimpo Business Aviation Center (SGBAC) in Gangseo-gu, Seoul, at around 1:40 PM that day. When reporters asked about his resolve as a member of the economic delegation, he simply smiled and departed without giving a special response. Executive Chair Chung and Chairman Koo also entered the departure hall at different times.

Samsung Electronics Chairman Lee Jae-yong is departing through the Seoul Gimpo Business Aviation Center (SGBAC) in Gangseo-gu, Seoul, on the 19th to accompany the economic delegation to India and Vietnam. Photo by Yonhap News

According to business circles and the presidential office, the Korea Chamber of Commerce and Industry (KCCI) and the Federation of Korean Industries (FKI) are said to have organized an economic delegation of around 200 people for this trip. KCCI is managing the Vietnam schedule, while FKI is in charge of the India schedule, overseeing events with local political and business leaders, including business forums and the signing of memorandums of understanding (MOUs).

The first destination of the state visit is India, where FKI Chairman Ryu Jin, Chairman Lee, Executive Chair Chung, and Chairman Koo will begin their delegation activities. India is the world's fourth-largest economy, boasting an average annual growth rate of 7%, and is a leading Global South nation with a huge domestic market of 1.4 billion people.

Samsung Electronics and LG Electronics have established production bases in this region and are strengthening their foothold in the local market. Last year, LG Electronics even listed its Indian subsidiary on the local stock exchange.

After completing the schedule in India, the business leaders will move on to Vietnam to continue their activities as part of the economic delegation. Chey Tae-won, Chairman of SK Group and head of KCCI, will also join the Vietnam portion of the trip.

Vietnam is Korea's third-largest trading partner after China and the United States, and is a place where the four major groups have established production bases and are actively conducting business. Samsung Electronics operates large-scale factories and a research and development (R&D) center locally, and is currently working on establishing the Samsung Innovation Campus. SK Group is also expanding its energy infrastructure business in Vietnam through power plants and liquefied natural gas (LNG) terminals. Hyundai Motor Group is considering increasing its investments to target the ASEAN market, while LG Group has built manufacturing clusters for its electronics and component companies.

Meanwhile, President Lee is scheduled to arrive in New Delhi in the afternoon to meet with Subrahmanyam Jaishankar, India's External Affairs Minister, and attend a dinner with the Korean community. On the following day, the 20th, he will hold a summit with Prime Minister Narendra Modi, participate in a memorandum of understanding exchange ceremony, and make a joint press announcement.

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