Next year, top Korean conglomerates will participate in CES and WEF

The executives of South Korea’s largest companies are embarking on a business attraction offensive as they move to expand their global presence.

Many executives are expected to attend upcoming global business events such as the World Economic Forum and the Consumer Electronics Show next year to meet face-to-face with their industry peers.

So far, only SK Group Chairman Choi Tae-won has confirmed his visit to the WEF in Davos, Switzerland. However, executives from South Korea’s top five conglomerates, including Samsung Electronics Chairman Lee Jae-yong, could join the WEF next year.

Lee has already started overseas business trips, starting with a visit to the United Arab Emirates (UAE) earlier this month.

Lee plans to visit Vietnam at the end of December this year to tour a research facility in Hanoi where Samsung Electronics has invested $220 million.

According to industry sources, Mr. Lee’s visit to Vietnam is likely after December 22, when he has to attend a trial on the merger of Samsung C&T and Cheil Industries.

Industry insiders predict Lee could join the WEF given his recent appointment as chairman of Samsung Electronics.

The Chair has not attended the WEF in the last 15 years, having attended in 2007.

In addition to Lee, Hyundai Motor Group Chairman Jung Eui-sung, LG Group Chairman Koo Kwang-mo, and Lotte Group Chairman Shin Dong-bin are expected to participate in the WEF.

If all of them participate in the WEF, it will be the first time that all executives of the top five Korean conglomerates will participate in an international economic forum.

Other top executives slated to join the upcoming WEF include CJ Group Chairman Song Kyung-sik, Hanwha Solutions Vice Chairman Kim Dong-kwang, and Hyosung Group Vice Chairman Cho Hyun-sang.

Aside from the forum, top officials are also expected to help facilitate Busan’s bid for the 2030 World Expo.

SK Group’s Choi is also co-chair of the 2030 Busan World Expo Bid Committee.

Meanwhile, Chey has also confirmed his attendance at the 2023 CES, where the group will drive a group-wide carbon zero initiative and related solutions. This will be his first time attending a tech trade show since becoming chairman of the group.

Samsung Electronics’ Lee could be at CES for the first time in a decade since his last Tech Show appearance in 2013.

Hyundai Heavy Industries CEO Chung Ki-sung will also participate in the world’s largest technology exhibition next year to coincide with the company’s 50th anniversary.

Shim Woohyun (ws@heraldcorp.com)