Chung Eui-sun, chairman of Hyundai Motor Group, is traveling to the U.S. to support tariff negotiations. He is joining the trip to the U.S. as the third major figure in the business community, following Kim Dong-kwan, vice chairman of Hanwha Group, and Lee Jae-yong, chairman of Samsung Electronics.

Chung Eui-sun, the chairman of Hyundai Motor Group, announces a strategic investment plan worth $21 billion by 2028 while U.S. President Donald Trump watches at the White House in Washington, D.C. on March 24. /Courtesy of White House Broadcasting

According to a government official on the 30th, Chung is scheduled to depart for Washington, D.C., in the afternoon.

Previously, on the 28th, Vice Chairman Kim Dong-kwan left for the U.S. He is said to be planning to assist in explaining the 'Make American Shipbuilding Great Again' (MASGA) project proposed by Korea in cooperation with the U.S. shipbuilding industry.

On the 29th, Lee Jae-yong boarded a flight to the U.S. He plans to propose expanding investments in semiconductors and technological cooperation in advanced artificial intelligence (AI) semiconductor fields, which Korea presented as negotiation cards.

Chung's participation is expected to be a significant advantage in the tariff negotiations with the U.S. This is because he received praise from U.S. President Donald Trump after announcing a local investment plan worth $21 billion (approximately 30 trillion won) during his visit to the U.S. last March. At that time, Hyundai Motor Group revealed plans to expand vehicle production in the U.S. and build a steel mill.

Hyundai Motor Group is also considered one of the companies most affected by the results of the tariff negotiations with the U.S. Previously, Japan succeeded in reducing tariffs on U.S. export products, including automobiles, from the previous 25% to 15%. Hyundai Motor and Kia, which compete with Toyota and Honda in the U.S., must also lower tariffs to the same level to maintain price competitiveness.

A business community official said, 'Automobiles, semiconductors, and shipbuilding are among the sectors that the Trump administration considers most important,' and added, 'The support from business leaders, including Chairman Chung, will be a significant force in this tariff negotiation.'

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