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President Lee Jae Myung held meetings with Hyundai Motor Group Executive Chair Euisun Chung and LG Group Chairman Koo Kwang-mo and discussed business and trade issues, the presidential office said Friday.
Lee hosted a dinner meeting with Chung on Monday and another dinner with Koo on Tuesday, presidential spokesperson Kang Yu-jung told reporters.
During the meetings, Lee listened to the executives' views on a range of topics, including investment in the United States, global trade dynamics, regional revitalization, research and development and future society vision, according to Kang.
The meetings came as U.S. President Donald Trump said Washington would impose 25 percent tariffs on Korean goods on Aug. 1, offering extra time for Seoul to negotiate a deal.
![President Lee Jae Myung, right, shakes hands with LG Group Chairman Koo Kwang-mo LG Group Chairman Koo Kwang-mo at his official residence in Seoul on July 14, 2025, [PRESIDENTIAL OFFICE]](https://koreajoongangdaily.joins.com/data/photo/2025/07/20/87b7b8a1-979f-4cd4-8418-8db115576dd0.jpg)
The United States has been pressing Korea to lift what it sees as protectionist trade practices.
Cars and appliance makers have already been hit hard by the tariffs, being forced to operate on thin margins.
Exports of finished vehicles — Korea's top export to the United States last year — in May totaled $2.51 billion, down 27.2 percent in the same month a year earlier.
Exports of auto parts also declined by 3.4 percent over the same period to $517.42 million.
Tariffs on vehicles were implemented in April and on auto parts in May.
Home appliance sellers have also struggled since the Trump administration began imposing tariffs of up to 50 percent on imported refrigerators, dryers and washing machines based on their steel content.
Lee vowed the government would frequently and comprehensively communicate with conglomerates.
BY JIN MIN-JI, YONHAP [jin.minji@joongang.co.kr]
President Lee Meets Hyundai, Lg Chiefs As Trump Tariffs Loom
President Lee Jae Myung, right, poses for a photo with Hyundai Motor Group Executive Chair Euisun Chung at his official residence in Seoul on July 14, 2025, [PRESIDENTIAL OFFICE]
Lee hosted a dinner meeting with Chung on Monday and another dinner with Koo on Tuesday, presidential spokesperson Kang Yu-jung told reporters.
During the meetings, Lee listened to the executives' views on a range of topics, including investment in the United States, global trade dynamics, regional revitalization, research and development and future society vision, according to Kang.
The meetings came as U.S. President Donald Trump said Washington would impose 25 percent tariffs on Korean goods on Aug. 1, offering extra time for Seoul to negotiate a deal.
President Lee Jae Myung, right, shakes hands with LG Group Chairman Koo Kwang-mo LG Group Chairman Koo Kwang-mo at his official residence in Seoul on July 14, 2025, [PRESIDENTIAL OFFICE]
Cars and appliance makers have already been hit hard by the tariffs, being forced to operate on thin margins.
Exports of finished vehicles — Korea's top export to the United States last year — in May totaled $2.51 billion, down 27.2 percent in the same month a year earlier.
Exports of auto parts also declined by 3.4 percent over the same period to $517.42 million.
Tariffs on vehicles were implemented in April and on auto parts in May.
Home appliance sellers have also struggled since the Trump administration began imposing tariffs of up to 50 percent on imported refrigerators, dryers and washing machines based on their steel content.
Lee vowed the government would frequently and comprehensively communicate with conglomerates.
BY JIN MIN-JI, YONHAP [jin.minji@joongang.co.kr]
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