U.S. President Trump gives 'special praise' for Lotte Group Chairman Shin Dong-bin
U.S. President Trump gives 'special praise' for Lotte Group Chairman Shin Dong-bin
  • Jung Jun-ho
  • 승인 2019.07.01 12:28
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Lotte Group Chairman Shin Dong-bin meets with U.S. President Donald Trump at the Oval Office on June 13

At a meeting with Korean businessmen at 10 a.m. on July 30, U.S. President Donald Trump said, "Lotte Group Chairman Shin Dong-bin was here today. Shin did a great job, so I think he should talk with me."

Pointing to Chairman Shin with his fingers, Trump said, "Shin visited Washington last month and decided to invest 3.6 trillion won in the U.S. I'm going to say that again.

"Thank you very much," Trump said twice. During his speech, Trump spoke twice more about Lotte's investment in the U.S. Louisiana plant. Talking about foreign companies' investment in the U.S., Trump also said that a new LNG plant has been set up in Louisiana right now.

"I'm referring to the Louisiana plant and many other factories. We're seeing the U.S. job creation increase even more and we're seeing the U.S. economy continue to grow over the course of two and a half years since I took office," he said.

On May 9, Lotte completed a mega-sized plant in Louisiana, the U.S., that can produce 1 million tons of ethylene a year. Total business expenses are worth 3.6 trillion won.

On May 13, Shin met Trump at the White House in Washington, D.C., for the first time among Korean business leaders. At the meeting, Shin explained to Trump about the Louisiana plant and discussed ways to expand investment and cooperate.

During the meeting, Trump also mentioned Lotte World Tower along with the building of Samsung Electronics' headquarters. He said, "When I first saw the building, I was very impressed by what it was like. It was Lotte building. It's a beautiful tower," he said..

"The results can be very different depending on what materials you use and how you design them," he said. "I was impressed by the architecture of the two companies I've mentioned right now, and I think they did a great job."

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