South Korea's President Lee Jae-myung and top conglomerate chiefs from Samsung, LG, and Hyundai are visiting India and Vietnam to boost investment in semiconductors, automotive, and electronics, and fortify global supply chains.
In a major push to fortify global supply chains and expand market footprints in the Global South, the heads of South Korea's four largest conglomerates are set to accompany President Lee Jae-myung on a high-stakes state visit to India and Vietnam starting this Sunday. The move signalled a major push for investment and partnerships across semiconductors, automotive, electronics, and energy, The Korea Herald reported.
High-Stakes Diplomatic and Business Mission
President Lee is scheduled to visit India and Vietnam from April 19 to 24, his first trip to the two countries since taking office last year. The India stop will be the first by a South Korean president in eight years. According to industry sources cited Friday by The Korea Herald, the attendee list for both legs has been finalised. The Federation of Korean Industries will organise the India mission, while the Korea Chamber of Commerce and Industry oversees the Vietnam delegation. Each mission is expected to include around 200 business executives. The delegations will participate in business forums -- India on Monday and Vietnam on Tuesday -- and meet senior government officials in both countries, the report said.
Key Business Leaders on Tour
Samsung Electronics Chair Lee Jae-yong and LG Group Chair Koo Kwang-mo are expected to join both legs of the trip, reflecting their groups' broad interests in the two markets. Samsung has made Vietnam a major production base for smartphones and electronics, while India has grown into a key consumer market and manufacturing hub. LG has also expanded in Vietnam, including automotive components and R&D, and is positioning India as a growth market with a third LG Electronics manufacturing plant now under construction, The Korea Herald noted. SK Group Chair Chey Tae-won, who also chairs the Korea Chamber of Commerce and Industry, is expected to lead the Vietnam delegation and skip India. Lee Hyung-hee, head of the SK Supex Council's communication committee, will travel to India in his place. Hyundai Motor Group Executive Chair Chung Euisun is expected to focus on India, underscoring the country's rising importance to the automaker. In Vietnam, the group will be represented by President Sung Kim, the veteran diplomat who oversees external and government affairs, according to the report.
Focus on Investment and Strategic Partnerships
Industry officials told The Korea Herald that the participation of top business leaders could pave the way for follow-up investment plans or new partnerships, given the "significant presence of Korean businesses" already in both countries. Key sectors in focus include semiconductors, automotive, electronics, and energy. (ANI)
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