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South Korean business leaders to attend inter-Korean summit in Pyongyang

SEOUL, Sept. 13 (UPI) — Heads of major South Korean conglomerates will be part of the South Korean delegation for the third North-South Korea summit in Pyongyang next week, South Korean media reported Thursday.

Some 10 to 15 business leaders of Samsung, Hyundai, SK and LG will visit Pyongyang next week with South Korean President Moon Jae-in for the third summit between Moon and North Korean leader Kim Jong Un, according to Maeil Business.

Those invited include vice chairman of Samsung Electronics and de facto leader of South Korea’s largest Samsung Group Lee Jae-yong, vice chairman of Hyundai Motor Company Chung Eui-sun, chairman of SK Corporation Choi Tae-won, CEO of LG Group Koo Kwang-mo and Hyundai Group chairwoman Hyun Jeong-eun.

The business magnates will be part of a 200-member South Korean delegation that will accompany Moon for the summit in Pyongyang, according to the report.

Expectations for future economic cooperation between two Koreas are growing as works are underway to reconnect disjointed railways between the North and South and with the opening of the liaison office this week in the border city of Kaesong to facilitate cross-border communications.

According to the report, the business delegation include firms that participated in inter-Korean economic cooperation projects in the past, such as Hyundai Group. Hyundai operated tourist facilities and programs in Mt. Kumkang and the joint factory complex in Kaesong.

The business leaders have expressed deep interest in joining the South Korean delegation to the summit despite their concerns for economic and financial sanctions on North Korea because they trust the government can work out the hurdle, the report said, citing an unnamed source.

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