Top executives of Korean conglomerates join CES, WEF next year

Top executives of South Korea’s largest businesses are embarking on a business charm offensive in a move to expand their global presence.

Many executives are now expected to participate in upcoming global business events, such as the World Economic Forum and the Consumer Electronics Show next year in a move to get face-to-face contact with their industry peers.

So far, only SK Group Chairman Chey Tae-won has confirmed his trip to the WEF in Davos, Switzerland. However, there are chances for executives from the country's top five conglomerates to join the WEF next year, including Samsung Electronics Executive Chairman Lee Jae-yong.

A photo shows Samsung Electronics Chairman Lee Jae-Yong at the construction site of the Barakah nuclear power plant located in Al Dhafra, Abu Dhabi, United Arab Emirates. (Yonhap)

Lee has already started his overseas business trips, beginning with a visit to the United Arab Emirates earlier this month -- his first business trip abroad after he was named chairman in October.

Lee is expected to visit Vietnam in late December this year to inspect Samsung Electronics’ research facility in Hanoi, in which the company invested $220 million.

Lee’s trip to Vietnam is likely to be after Dec. 22, when he has to attend a trial regarding the Samsung C&T-Cheil Industries merger, according to industry sources.

Industry sources predict that Lee will be able to join the WEF, given that he was recently named chairman of Samsung Electronics.

The chairman has not made an appearance at the WEF for the past 15 years after attending in 2007.

Other than Lee, Hyundai Motor Group Chairman Chung Euisun, LG Group Chairman Koo Kwang-mo and Lotte Group Chairman Shin Dong-bin are also expected to join the WEF at the moment.

If they all participate in the WEF, it will be the first time all executives from the top five South Korean conglomerates are present at the international economic forum.

Other top executives expected to join the upcoming WEF include CJ Group Chairman Sohn Kyung-shik, Hanwha Solutions Vice Chairman Kim Dong-kwan and Hyosung Group Vice Chairman Cho Hyun-sang.

On the sidelines of the forum, the top executives are expected to help promote Busan’s bid for the World Expo 2030 as well.

SK Group Chairman Chey Tae-won speaks during a forum held on Dec. 1, Tokyo, Japan. (Yonhap)

SK Group's Chey is concurrently serving as co-chairman of the Busan World Expo 2030 bidding committee.

Meanwhile, Chey has also confirmed his attendance at the 2023 CES, where the group will promote its groupwide carbon zero initiative and related solutions. It will be his first visit to the tech trade show after he became the chairman of the group.

Samsung Electronics’ Lee could join the CES for the first time in a decade since his last participation in the tech show in 2013.

Hyundai Heavy Industries CEO Chung Ki-sun is also scheduled to join the world’s largest tech show next year, coinciding with the company’s 50th anniversary.

By Shim Woo-hyun(ws@heraldcorp.com)