April 19, 2024

• 

[THE INVESTOR] Three Korean conglomerates Samsung Group, LG Electronics and Hyundai Motor have spent a combined US$2.05 million as of October this year on lobbying activities in the US, their crucial market, according to data compiled by the Center for Responsive Politics, a nonprofit group tracking political money.

Samsung was the largest spender among Korean firms as it spent US$1.22 million to lobby legislators involved in bills related to, among others, telecom services and intellectual property. 

Hyundai Motor and LG were found to have spent US$710,000 and $120,000, respectively.

Their combined expenditure is still far below the spending by their US counterparts.

Key rivals such as Apple, Microsoft and General Motors spent a total of US$16.11 million, about eight times more than the Korean big three.

In the meantime, during the past presidential election this year, individuals from Samsung made a combined US$9,835 donations, with US$4,331, nearly half the amount, going to the Hillary Clinton camp. President-elect Donald Trump received US$1,075.

By Kim Young-won (wone0102@heraldcorp.com)