South Korean president Moon Jae-in will be accompanied by 52 local business delegates on his first state visit to the United States at the end of this month. Big names in the list of the delegation include SK Group Chairman Chey Tae-won, GS Group Chairman Huh Chang-soo, Doosan Group Chairman Park Jung-won and Hanjin Group Chairman Cho Yang-ho.

On Friday, the Korea Chamber of Commerce and Industry (KCCI), in charge of forming the business delegation, announced the list of 52 business people including those from 10 large companies, 14 medium-sized companies, 23 small and medium-sized companies, two public companies and two U.S.-based Korean firms. Small- and medium-sized businesses accounted for more than two thirds of the group.

By industry, eight were chosen from the IT and data security sector, seven from energy and environment, and each from aviation and space, plant and engineering, robot system, and advanced materials. Seven representatives were from machinery and equipment, six from automobile and auto parts, five from electrical and electronics, and three from food and retail.

Many high-profile business leaders will join the president’s first trip abroad, including Hyundai Motor Co. Vice Chairman Chung Eui-sun, SK Group Chairman Chey, LG Group Vice Chairman and CEO Koo Bon-joon, GS Group Chairman Huh, Doosan Group Chairman Park, Hanjin Group Chairman Cho, CJ Group Chairman Sohn Kyung-shik, LS Group Chairman Koo Ja-yeol, and KCCI Chairman Park Yong-man.

Samsung Electronics will send Vice Chairman and CEO Kwon Oh-hyun on behalf of Vice Chairman Jay Y. Lee, who is currently behind bars on bribery charges. Hanwha Techwin CEO Shin Hyun-woo will take part as a representative of Hanwha Group.

The KCCI said it assembled the delegation mostly of companies rather than associations or organizations, taking into account the amount of U.S. trade and investment, company performance, business plans, and potential of future partnerships on high-tech sectors.

The size of this year’s business delegation is similar to that of former president Park Geun-hye’s first U.S. visit on May 2013. Her 2015 visit to the U.S. had brought 166 delegates.

The business delegation will accompany President Moon at the Korea-U.S. Business Summit hosted by the chambers of commerce in both countries, on June 28 at the U.S. Chamber of Commerce Foundation in Washington D.C.

Their visit to the U.S. will come at a time when U.S. President Donald Trump is seeking to amend the country’s free trading pacts with its partnering nations citing growing trade deficits. Korea’s trade surplus with the U.S. totaled $23.3 billion last year, down from $33.8 billion in 2015. Before the free trade agreement signed with the U.S., surplus was $11.6 billion in 2011.

By Jung Wook

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]