Lee likely to meet business leaders later this week ahead of G7 summit

President Lee Jae-myung is expected to meet with top business leaders and heads of major economic organizations later this week, ahead of his participation in the Group of Seven (G7) summit in Canada, industry sources said Monday.

According to the sources, the presidential office is arranging the meeting for Thursday or Friday, with the Korea Chamber of Commerce and Industry (KCCI) coordinating final details on behalf of the business community.

The gathering is expected to bring together the heads of South Korea’s five major conglomerates — Samsung Electronics Co. Chairman Lee Jae-yong, SK Group Chairman and KCCI Chairman Chey Tae-won, Hyundai Motor Group Chair Euisun Chung, LG Group Chairman Koo Kwang-mo and Lotte Group Chairman Shin Dong-bin.

Other business leaders expected to attend include Sohn Kyung-shik, chairman of the Korea Enterprises Federation, and Yoon Jin-sik, chairman of the Korea International Trade Association.

The meeting appears to be aimed at reviewing both domestic and global economic conditions and gathering input from the business community on key pending issues ahead of Lee’s participation in the G7 summit, scheduled for June 15-17 in Alberta, Canada.

On his first day in office, Lee ordered the formation of an emergency economic task force, and was briefed on the current state of the local economy and the potential impact of a supplementary budget, underscoring his administration’s focus on economic recovery as a top policy priority.