President Lee holds back-to-back meetings with business leaders to coordinate mega-projects, US trade issues

President Lee Jae-myung is engaging in a series of high-level meetings with the leaders of South Korea's major business conglomerates, signaling a concerted effort to bolster industrial competitiveness and coordinate national investment strategies. Following a private dinner with SK Group Chairman Chey Tae-won, the President is scheduled to meet with Samsung Electronics Chairman Lee Jae-yong on August 26.

These back-to-back meetings underscore the administration's focus on fostering a "one-team" approach between the government and industry to accelerate investments in critical sectors such as semiconductors, physical AI, and AI data centers. This initiative comes approximately one month after President Lee met with domestic and international business figures, including Chairmen Lee and Chey, at the AI Summit in San Francisco.

A primary agenda item for the meeting with Chairman Lee is expected to be Samsung Electronics' domestic investment plans, particularly concerning the "mega projects." Samsung had previously announced significant investments in semiconductor fabrication plants in the Honam region, with discussions reportedly underway to potentially expand the number of fabs. Site selection and infrastructure development, such as the relocation of the Gwangju military airport, are also key considerations.

Beyond investment plans, the discussions are likely to address corporate concerns and policy requests, such as exemptions from the 52-hour workweek for R&D personnel and extensions for fixed-term contract workers, as outlined in the proposed Mega Special Zone Act. Furthermore, the increasing pressure from the United States for increased semiconductor investment is a critical factor, requiring coordinated strategies between the government and industry for both domestic and overseas investments.

Following his meeting with Chairman Lee, President Lee is also expected to meet with Hyundai Motor Group Chairman Chung Eui-sun to discuss investment plans, including those in Saemangeum. The series of meetings highlights the government's proactive stance in aligning corporate strategies with national economic goals and navigating complex international trade dynamics.