Chaebol leaders to join Yoon in Czech Republic


President Yoon Suk Yeol and the top four chaebol leaders of South Korea, including Samsung Electronics Chairman Lee Jae-yong, are expected to accompany him on his upcoming state visit to the Czech Republic. The visit is a result of a Korean consortium, led by Korea Hydro and Nuclear Power, being selected as the preferred bidder for a significant nuclear plant project in the Czech Republic with an estimated value of around 24 trillion won ($17.3 billion). The summit is anticipated to focus on strengthening economic ties between the two countries across various industries. The Korea Chamber of Commerce and Industry is planning to organize a business delegation, including the leaders of the top four conglomerates, to join President Yoon on the trip. During the visit, the two countries may explore the possibility of signing an advanced trade agreement, known as the Trade and Investment Promotion Framework, to address trade challenges such as supply chains, green initiatives, digital technologies, and biotechnology. Korea's Industry Minister Ahn Duk-geun has indicated that a comprehensive action plan, including the signing of the TIPF with the Czech Republic, is being proposed, and further discussions are expected to take place to finalize the details of the agreement.


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