[Business Leaders Engagement] President Lee Holds Consecutive Meetings with Top Conglomerate Chiefs (July 24, 2025)
[Business Leaders Engagement] President Lee Holds Consecutive Meetings with Top Conglomerate Chiefs (July 24, 2025)
Overview: A Series of Engagements with Business Leaders
On July 24, 2025, Presidential Spokesperson Kang Yoo-jung announced that President Lee Jae-myung has met with Korea’s top business leaders for the second consecutive week. On July 21, he met with Kim Dong-kwan, Vice Chairman of Hanwha Group; on July 22, with Chey Tae-won, Chairman of SK Group; and on July 24, with Lee Jae-yong, Chairman of Samsung Electronics. Each meeting took the form of a dinner gathering without a formal agenda, focusing instead on free and wide-ranging exchanges of opinion.
Why now? The context behind consecutive meetings
These back-to-back engagements go beyond ceremonial exchanges—they carry both economic and political significance. President Lee, who has emphasized livelihood-focused economic recovery and private-sector-led growth since the start of his term, appears intent on directly persuading and partnering with business leaders as key drivers of policy execution. July is also the period when the government finalizes its second-half economic policy direction and major investment plans, making it an opportune time for high-level consultations with industry leaders.
The symbolism of the companies involved
- Hanwha Group: A leader in defense, energy, and space industries—closely aligned with the government’s strategic industrial policies.
- SK Group: A powerhouse in semiconductors, batteries, energy, and biopharmaceuticals.
- Samsung Electronics: Korea’s flagship global tech and semiconductor giant.
Meeting leaders from these three groups signals the President’s intent to maintain a balanced, economy-wide dialogue, rather than focusing on one sector alone.
The meaning of “no set agenda”
These gatherings were notable for having no predetermined agenda, a departure from the formal, rigid formats of past administrations. This approach fosters trust-building and respect for corporate autonomy, encouraging frank discussions on business conditions, global market trends, regulatory reforms, and future investment priorities.
Policy implications
1) Stimulating private investment
Government spending alone cannot sustain economic recovery. Private investment must be encouraged through policy support, and these meetings can be seen as direct appeals for business leaders to expand investments.
2) Regulatory innovation and industrial support
Fast-tracking approvals, offering tax incentives, and training skilled workers are essential to fostering emerging industries. President Lee’s willingness to hear these concerns directly may signal accelerated reforms.
3) Enhancing global competitiveness
Samsung, SK, and Hanwha are deeply embedded in global markets. Presidential engagement could lead to more robust diplomatic and trade support, supply chain stabilization, and assistance in overseas market expansion.
Comparison with past administrations
While past presidents have also met with business leaders, rarely has such a series of meetings with three major conglomerate heads occurred in such quick succession. The informal dinner format reduces stiffness and promotes candid conversation, strengthening long-term partnerships and increasing policy credibility.
Looking ahead
- Institutionalizing regular business leader gatherings
- Creating industry-specific communication channels
- Rapid policy adoption of on-site business proposals
- Joint announcements of large-scale private investment projects
Full text of the presidential office briefing (EN translation)
Written Briefing by Spokesperson Kang Yoo-jung on President Lee’s Engagements with Business Leaders
July 24, 2025
President Lee Jae-myung met with top business leaders this week following similar meetings last week.
On July 21, he met with Kim Dong-kwan, Vice Chairman of Hanwha Group; on July 22, with Chey Tae-won, Chairman of SK Group; and on July 24, with Lee Jae-yong, Chairman of Samsung Electronics, for dinner gatherings.
The meetings were held without a predetermined agenda, allowing for free and wide-ranging discussions. For the purpose of the meetings, please refer to last week’s dinner gathering announcement.
July 24, 2025
Spokesperson Kang Yoo-jung, Office of the President
Further reading
- Official briefing (KR): President Lee’s Engagement with Business Leaders — Written Briefing
- All posts in the category (KR): Presidential Office Briefings
This post is based on materials provided by the official source.
Closing
President Lee’s consecutive meetings with top business leaders signal a strategic shift toward two-way trust and cooperation between the government and private sector. This approach is a critical foundation for economic recovery and growth, and could positively influence the pace of policy implementation and private-sector participation.
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