S. Korean conglomerates strengthen govt affairs team in Washington

Some Korea’s major conglomerates are fortifying their government affairs team in the United States by setting up Washington D.C. offices or recruiting former American bureaucrats to better respond to uncertainties from frequent policy changes of the U.S. administration amid the escalating U.S.-China rivalry and Washington’s push to reshape global supply chains.

Samsung Electronics recently hired former U.S. Ambassador to South Korea Mark Lippert as executive vice president and head of North American public affairs. The former envoy will lead the company’s Washington office to handle government affairs related to legislative and regulatory matters from March 1.

Samsung Electronics expects him to bring his decades of public policy experience and deep understanding of how geopolitics impacts business in the U.S. to its American operation.

LG Group and Hyundai Steel also opened new D.C. offices this year to better cope with U.S. and global policy changes.

LG Group recruited former White House deputy chief of staff Joe Hagin for its D.C. office.

Hagin who had worked as a White House portfolio expert for 15 years was Donald Trump’s point person who arranged the 2018 Singapore Summit between the former president and North Korean leader Kim Jong-un. Hagin is tasked with managing the group’s government relations as LG Group plans to strengthen its networking capabilities through its D.C. office while expanding local investments for electric vehicle battery business through LG Energy Solution across the U.S.

Hyundai Steel under Hyundai Motor Group plans to increase steel product sales in the U.S. by better responding to trade regulations and countervailing duty issues through its local office while the group is trying to expand investments in the U.S.

Last year Korea’s top steelmaker Posco hired Stephen Biegun, former U.S. deputy secretary of state, as its adviser for North American business. He is serving as an advisor for the steelmaker in the fields of international relations, investment, eco-friendly practice, and trade. An industry official said Posco is receiving advice from the former bureaucrat while preparing a separate project with the U.S. State Department.

Biegun established strong connections to the Republican Party while serving as U.S. deputy secretary of state and the U.S. special representative for North Korea.

Coupang, South Korea’s e-commerce giant, named ex-Pyongyang negotiator Alex Wong as its head of public affairs in June last year. In the newly created role based in D.C., Wong who worked under the Trump administration oversees public policy matters and U.S. government relations for Coupang that listed its shares on the New York Stock Exchange in March last year.

South Korea’s leading defence companies such as Hanwha Defence, Korea Aerospace Industries and LIGNex1 are expanding their existing organizations in D.C. in hopes of increasing exports of Korean weaponry.

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