Top executives of South Korea’s four biggest conglomerates, including Samsung Electronics Vice Chairman Lee Jae-yong, as well as venture enterprises are accompanying President Moon Jae-in his visit to Pyongyang for a third summit meeting this year with North Korean leader Kim Jong-un in hopes that technocapitalism power of the South can help accelerate denuclearization steps and opening in the North.

The high-profile names underscore the willingness of the South`s business circle to explore the extremely undeveloped and resource-rich North Korea, although no movement is possible until tangible denuclearization progress is made to ease the bilateral and international sanctions.

Hyundai Motor Group Vice Chairman Kim Yong-hwan, SK Group Chairman Chey Tae-won and LG Group CEO Koo Kwang-mo would also join the 200-member delegation headed for Pyongyang Tuesday morning for a three-day trip, Presidential chief of staff Lim Jong-seok said on Sunday.

Chung Eui-sun, executive vice chairman of Hyundai Motor Group, is the only one among the new generation chiefs of the country’s top family-run chaebols to miss the trip because of his scheduled meeting with U.S. Commerce Secretary Wilbur Ross in Washington this week.

Lim said the group will also include Hyun Jeong-eun, chairwoman of Hyundai Group, which operated the now-suspended tourist facilities and programs in North Korea. Other business delegates include Korean Chambers of Commerce and Industry chairman Park Yong-maan, Korea Employers Federation chairman Sohn Kyung-sik, Korea Federation of SMEs chairman Park Sung-taek, Korea Railroad Corporation president Oh Young-sik, POSCO chairman Choi Jeong-woo, Korea Electric Power Corporation president Kim Jong-gap, Korea Development Bank chairman Lee Dong-geol, Korea Tourism Organization president Ahn Young-bae, SoCar CEO Lee Jae-woong, and Bluehole chairman and co-founder Chang Byung-gyu.

Other delegates will include presidential staff, cabinet members, politicians, religious leaders, entertainers, labor activists, women`s rights activists, musicians and journalists.

By Oh Soo-hyun and Minu Kim

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