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President Lee Jae-myung salutes the national flag during a public–private joint meeting at the presidential office in Yongsan on November 16, held to follow up on the Korea–U.S. tariff negotiations.

President Lee Jae-myung underscored the critical role of the private sector on November 16, following the announcement of the Korea–U.S. joint fact sheet on tariffs and security. Meeting with the heads of the nation’s seven largest conglomerates, Lee vowed that his administration would “do anything possible,” including dismantling regulatory hurdles, to support aggressive corporate investment and research.

Speaking at a public–private follow-up meeting at the presidential office in Yongsan, Lee said the government was prepared to adopt new forms of support such as government purchases of subordinated bonds, taking on first-loss risks to encourage high-risk R&D and capital investment.

The gathering brought together Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, Hyundai Motor Group Chairman Chung Eui-sun, LG Group Chairman Koo Kwang-mo, HD Hyundai Chairman Chung Ki-sun, Celltrion Chairman Seo Jung-jin, and Hanwha Group Vice Chairman Yeo Seung-joo.

Lee praised the unified response shown by the government and industry during the months-long tariff negotiations with the United States, saying it was hard to recall another case “where coordination between government and business had aligned so well.”

He asked the corporate leaders to offer specific recommendations on regulatory reforms and reiterated the government’s willingness to shoulder risk: “Whether it’s financial investment, R&D, or support for high-risk sectors, we’re ready to consider mechanisms where the government purchases subordinated bonds and absorbs losses first. We’re prepared to deploy new tools to empower bold, venture-driven investment.”

Lee also called for close cooperation to ensure the smooth implementation of Korea’s US$350 billion (about 500 trillion won) investment commitment in the United States and stressed the need to prevent the outflow of resources from dampening domestic investment.

“If conditions are similar, I ask that you devote greater attention to investing at home,” he said. “Balanced national development is a serious challenge, and I urge renewed focus on revitalizing industries in regional and local economies.”

The corporate leaders responded by pledging stronger investment and hiring within Korea. SK Group Chairman Chey Tae-won announced that the company would ramp up its already substantial domestic investment plans—boosting the scale of funding for the Yongin Semiconductor Cluster to roughly 600 trillion won, far above its original plan of 128 trillion won through 2028.