South Korea's Economic Alliance Moves: Lee Jae Myung's Summit Strategy

South Korean President Lee Jae Myung convened with leaders from the country's largest conglomerates, including Samsung and Hyundai, in preparation for his upcoming summit with U.S. President Donald Trump. The meeting is set to address the strengthening of the South Korea-U.S. economic partnership, particularly in manufacturing, after a recent tariff agreement.

The summit, scheduled for August 25 in Washington, aims to bolster economic security and manufacturing ties, following the U.S.'s imposition of a 15% tariff on South Korean imports as part of a deal to avoid higher levies. Seoul has also pledged a $350 billion investment in the United States.

Despite a lack of a formal agreement, defense costs and practical fund management remain uncertain. Key sector leaders discussed future collaborations, including shipbuilding partnerships. The summit aims to optimize economic outcomes, and officials from various industries will accompany President Lee to the Washington talks.

(With inputs from agencies.)