Samsung, LG, and POSCO Hold High-Level Meeting with Myanmar Military Junta, the 'Coup Mastermind'

[Image source=AP Yonhap News]

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[Asia Economy Reporter Cho Hyun-ui] It has been revealed that major South Korean conglomerates such as Samsung Electronics, LG Electronics, and POSCO met with military government officials involved in the coup last month through the mediation of the South Korean Embassy in Myanmar.

On the 17th, a British economic media outlet reported, "The South Korean Embassy in Myanmar hosted a high-level meeting between Myanmar government officials and Korean companies called the 'Economic Cooperation Dialogue between Korea and Myanmar' last month at the Yangon Lotte Hotel."

On the Korean side, the Korea Chamber of Commerce and Industry, Samsung Electronics, LG Electronics, and POSCO attended, while on the Myanmar side, the Directorate of Investment and Company Administration (DICA) and the Union of Chambers of Commerce and Industry participated. The media pointed out, "Despite the Korean president, a former human rights lawyer, voicing criticism against the military, this meeting took place."

POSCO Coated & Color Steel declared the termination of its joint venture with a Myanmar military-owned company in April. POSCO International emphasized, "We attended the meeting to discuss the difficulties the company’s business is facing," adding, "There are no new contracts made after the coup. We have no relationship with the military government." LG responded, "We cannot confirm whether we attended the meeting," while Samsung and the South Korean Embassy in Myanmar either did not respond or refused to comment.

There were also critical voices regarding the event being held at the Yangon Lotte Hotel, which was built on land leased from the Myanmar military by POSCO International. Former Myanmar Special Rapporteur on Human Rights Lee Yang-hee told the media, "It is very shameful that the event was held at the Lotte Hotel and that even officials from the Korea Chamber of Commerce and Industry attended," adding, "It is as if Korea has recognized the legitimacy of the military government."

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