Conglomerate leaders set to renew biz push in China

Major conglomerate leaders are set to embark on a rare joint business trip to China in early January, as part of efforts to restore their supply chain partnership with the world’s second-largest economy in key strategic future growth areas such as chips, batteries and electric vehicles (EVs), industry officials said Wednesday. The heads of Samsung, SK, LG and Hyundai Motor will also seek more business ties with their Chinese partners by accompanying President Lee Jae Myung’s envisaged visit to China. A group of some 200 business tycoons will fly to Beijing as a business delegation. It will be the first Korean business delegation to China in six years since December 2019, with Korea Chamber of Commerce and Industry (KCCI) Chairman Chey Tae-won set to lead the group. The Korean business leaders will be tasked with reviving their partnerships with Chinese firms amid decreased trade friction between the United States and China. Korea’s business circle has remained highly vulnerable to the prolonged trade war between the world’s two largest economies. Samsung Electronics Executive Cha