Korea’s Shinsegae chairman dines with Trump at Mar-a-Lago

Chung Yong-jin, the chairman of South Korea’s retail giant Shinsegae Group, held talks with US President-elect Donald Trump, becoming Korea's first tycoon to meet him.  

Chung dined with Trump at his Mar-a-Lago resort in Florida and the two held a conversation for about 15 minutes, according to a Shinsegae Group official in Seoul. Chung stayed at the resort for six days from Dec. 16 to Dec. 21.

“Chung had a meal with President-elect Trump at his Mar-a-Lago resort in Palm Beach, Florida,” said the official.

“Chung held in-depth talks with Trump on various topics during the meal,” the official added, declining to elaborate on details of the discussion.

Chung is the first Korean magnate to meet Trump since his election in November. No one else in Korea’s business, political or diplomatic circles has met the president-elect since his election to a second term on November 5.

TOUGHER POLICIES

Trump has called South Korea a “money machine” and said the longtime ally would pay $10 billion a year for US troops stationed there if he were in the White House.

The president-elect is expected to impose tariffs of more than 10% on Korean goods, posing additional downside risk for Asia’s fourth-largest economy.

Chung declined to comment on whether Trump discussed those issues.

“I am not in a position to answer such questions even if Trump asks,” he said, according to Korean media, which spoke with Chung at Hartsfield-Jackson Atlanta International Airport in Georgia on Saturday.

Chung added that the Korean government had not asked him to deliver any messages to Trump.

Korea’s business community appears eager for Chung to play a liaison role with the Trump administration, but he remained cautious.

“What kinds of qualification do I have (to perform such a role)?”

INVITATION FROM TRUMP JR.

Despite Chung's stance, Korea’s government and business community pinned high hopes on his role between the two countries after he was invited to the Mar-a-Lago resort by the president-elect's son, Donald Trump Jr. Chung initially planned to stay there for four days but extended his stay by two days.

Trump Jr., also known as Don Jr., is so influential that some US media reported that the president-elect’s eldest son recommended Ohio Senator JD Vance for vice president.

During his stay at Mar-a-Lago, Chung was introduced by Trump Jr. to a variety of political and business figures, including those who worked for Trump's election campaign.

His visit has prompted expectations that Korean government officials and politicians may seek Chung's help, sources in Seoul said.

Write to Jae-Kwang Ahn at ahnjk@hankyung.com
 
Jongwoo Cheon edited this article.