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President Lee Jae-myung is set to hold his first official meeting with the heads of Korea’s top business conglomerates and economic groups on June 13, amid rising anticipation over potential regulatory relief and government support for struggling industries.

According to business and political sources on June 12, the meeting will take place at the presidential office in Yongsan and will include the leaders of the five major conglomerates—Samsung, SK, Hyundai Motor, LG, and Lotte—as well as the heads of Korea’s six major economic organizations.

Expected attendees include Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman and Korea Chamber of Commerce and Industry (KCCI) chief Chey Tae-won, Hyundai Motor Group Chairman Chung Euisun, LG Group Chairman Koo Kwang-mo, and Lotte Group Chairman Shin Dong-bin. They will be joined by Ryu Jin of the Federation of Korean Industries, Sohn Kyung-shik of the Korea Employers Federation, Yoon Jin-sik of the Korea International Trade Association, Kim Ki-moon of the Korea Federation of SMEs, and Choi Jin-sik of the Korea Federation of Middle Market Enterprises.

The meeting comes one day after President Lee’s visit to the Korea Exchange, where he stressed the need to revitalize the stock market—underscoring his administration’s resolve for economic recovery and deregulation under a “pragmatic market-oriented” approach.

Industry insiders view the meeting as a crucial chance to voice urgent concerns. Korea’s export-dependent sectors, especially petrochemicals and steel, are under severe strain from oversupply from China and the Trump administration’s tariff policies. The battery industry is also facing a prolonged slump due to stagnant demand for electric vehicles.

While the corporate sector remains wary of the proposed Commercial Act revision, President Lee has signaled strong support for it. At the Korea Exchange, he remarked that simply correcting structural irregularities could double the market’s valuation, adding, “The Commercial Act amendment is part of that correction.”

Still, given this is the first official gathering, it is unlikely Lee will raise highly divisive issues. In line with his consistent emphasis on “pragmatic diplomacy,” he may opt for a conciliatory tone and reaffirm his support for high-tech investment and negative-list regulatory reforms.

The timing is also notable—coming just before the G7 summit—at a moment when Korean exporters are grappling with tariff uncertainties and currency volatility following U.S. President Donald Trump’s return to office.

Past presidents have used their first meetings with business leaders to balance support and responsibility. In 2012, then-President-elect Park Geun-hye pledged to back “legitimate business activities” while urging companies to help protect workers’ jobs. Former President Yoon Suk-yeol met with the business community just 11 days after his election, promoting deregulation and free investment. In 2017, President Moon Jae-in held a relaxed “hope meeting” on the Blue House lawn with business leaders in a standing format, emphasizing transparency and openness.

“This meeting could be an open forum to freely discuss pressing economic issues and set the direction forward,” said one business official. “The fact that it’s happening so early in Lee’s presidency is meaningful in itself.”