April 19, 2024

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[THE INVESTOR] Samsung Electronics spent US$1.47 million on lobbying activities in the first half of this year, almost triple the amount spent in the same period last year, data showed on July 25.

US Senate Lobbying Disclosure Database showed that the Korean tech giant spent US$680,000 in the first quarter and US$790,000 in the second, respectively.

About the increased lobbying spending, Samsung cited several trade issues such as the Korea-US free trade agreement, NAFTA, Trans-Pacific Partnership, trade restrictions and foreign investment in the US.

Other big name exports also stepped up their lobbying activities in the US after the Donald Trump administration took office possibly to smooth out potential trade issues.

Steelmaker POSCO resumed its US lobby after 14 years, the data showed, spending US$310,000 in the first half.

Hanwha reported US$20,000 in lobbying in the second quarter this year. While Hyundai Motor’s lobbying spending was reduced in the first half to US$380,000 compared to last year’s US$430,000. Its smaller affiliate Kia Motors reported US$380,000 during the period, the same amount as last year.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)