At Elysee Palace
Samsung Chairman Lee Jae-yong, SK Chairman Chey Tae-won, Hyundai Motor Chung Eui-sun, and LG Chairman Koo Kwang-mo discussed bilateral cooperation on energy, biotechnology and future transportation in a meeting with French President Emmanuel Macron.
The Korean business leaders met with President Macron at Elysee Palace on June 21 (local time), according to the Korea Chamber of Commerce and Industry (KCCI). The French President invited them to Elysee Palace to support Busan’s bid to host the 2030 World Expo.
The meeting was attended by the heads of the four largest Korean business groups plus Hanwha Vice Chairman Kim Dong-kwan, Korean Air Chairman Cho Won-tae, Hyosung Vice Chairman Cho Hyun-sang, and Poongsan Group Chairman Ryu Jin. During the meeting, President Macron announced his administration’s economic and social reform policies to make France more attractive for investment. Specifically, the French head of state explained the French government’s investment plans in future strategic industries such as energy, future transportation, and the medical business and biotechnology and asked Korean companies to participate in the investment plans.
“Since taking office in 2017, President Macron has steadily promoted business-friendly policies such as lowering corporate tax and simplifying administrative procedures,” said Lee Sung-woo, head of the International Trade Division at the KCCI. “As a result, Korea has invested a total of US$4.1 billion in France through more than 550 investment cases over the past five years. This meeting with the heads of the major Korean business groups will offer Korean companies an opportunity to actively invest in France with strong support from the French government.”
Prior to the Elysee Palace event, the Korea-France Business Roundtable with MEDEF International was held by the KCCI in Paris on June 21 by the Korea Chamber of Commerce and Industry. MEDEF International is France’s largest economic organization. On hand were 13 Korean business leaders: Woo Tae-hee, vice chairman of the Korea Chamber of Commerce and Industry; Park Seung-hee, president of Samsung Electronics; Lee Hyung-hee, chairman of SK Communications; Song Ho-sung, president of Kia Corp.; Cho Joo-wan, president of LG Electronics; Kim Kyo-hyun, vice chairman of Lotte Chemical; Chung Tak, vice chairman of POSCO International; Ka Sam-hyun, vice chairman of HD Hyundai; Kang Ho-sung, head of Management Support at CJ; Woo Ki-hong, president of Korean Air; Jeong Sang-chul, CEO of Q Energy; Yoo Young-sang, CEO of SK Telecom; and Kim Dong-wook, vice president of Hyundai Motor.
On the French side were 17 representatives from the French government and business community including Stephane Israel, chairman of the Korean-French Business Council at MEDEF International; French Ambassador to Korea Philippe Lefort; François Jackow, CEO of Air Liquide; and Pascal Cagni, chairman of Business France.
In the business roundtable, participants had an in-depth discussion on mid- to long-term cooperation between the two companies focusing on the energy and technology sectors. During the event, the KCCI signed a memorandum of understanding with MEDEF to expand mutual cooperation, including exchanges in the economic and industrial sectors, and serve as private communication channels to facilitate Korean and French firms’ business activities.