Korean business leaders take to global markets this summer

Hyundai Motor Group Chair Euisun Chung [Photo by Kim ho-young]

According to sources in the business circle on Sunday, Hyundai Motor Group Chair Euisun Chung has started the month of July in Europe by visiting the 2023 Global Distributors Convention being held in Paris. The global event was a conference convened by executive officers of the local automaker and the company’s distributors worldwide to discuss future paths for the company.

Chung visited a chip lab from global tech giant Intel located in Kildare Island, on Friday to gain insights into supply shifts in the global semiconductor industry, as the U.S.-based chipmaker’s lab was one of the key chip facilities in Europe.

Chung is also poised to make an appearance in the 2023 Goodwood Festival of Speed, scheduled to be held on July 13 in Sussex countryside, the U.K. Hyundai Motor Group will unveil its high-performance electric vehicle (EV) Ioniq 5 N in the event. It will be the first attendance at a new car launch event made by Chung since assuming the position of a chairman in 2020.

Hanwha Group Vice Chairman Kim Dong-kwan is expected to visit the U.S. this summer, which coincides with a visit to U.S. President Joe Biden to a Hanwha Q CELLS factory in Georgia scheduled between July and August. Hanwha Solution runs a factory of Q CELLS solar modules with a production capacity of 1.7 gigawatts in Dalton, Georgia. Biden had announced plans to visit the Hanwha plant during his visit to Flex Ltd’s plant in South Carolina on July 6.

In addition, Kim is set to visit Poland and explore export markets this week as part of an economic mission during a state visit of South Korean President Yoon Suk Yeol. “No definitive plans have been made afterward,” according to Hanwha Group.

SK Group Chairman Chey Tae-won, who also chairs the Korea Chamber of Commerce and Industry, is playing his role in making South Korea a host for the World Expo 2023 in Europe.

LG Group Chairman Koo Kwang-mo will join the economic mission during the president’s state visit to Poland. He is the only chairman among the leaders of the country’s four conglomerates to be engaged in the economic mission.

Jay Y. Lee, executive chairman of Samsung Electronics Co., is expected to visit the company’s international production facilities and enhance ties with the global networks as his criminal trials are suspended from July 24 and Aug. 4.