President Lee Jae Myung bows deeply to SK Group Chairman Chey Tae-won at an announcement of massive investments in three “megaprojects” held at the Blue House on June 29, 2026. (pool photo)
During a televised address unveiling massive investment plans on Monday, South Korean President Lee Jae Myung doubled over in deep bows to the heads of the country’s top two chipmakers, SK and Samsung. “Let me thank you on behalf of the Korean people for your momentous decision,” the president said to Samsung Electronics Chairman Lee Jae-yong and SK Group Chairman Chey Tae-won. Both businessmen reciprocated with a bow of their own. Calling the two conglomerates’ decisions to invest big in cutting-edge technology in regions outside the Seoul capital area “moving,” the president suggested that the venture was “the start of a new chapter in Korea’s history.” “I’d call the both of you national heroes and heroes to your country,” he went on. The president then went on to shake hands with the two executives to show his “determination to carry out these plans meticulously and without delay.”During a press conference following the announcement, Kang Hoon-sik, the Blue House chief of staff, said that the president had originally suggested that he prostrate himself before the tycoons. “[Lee] said that he wanted to get on his knees and bow down to the businessmen because he was so grateful, but his aides barely managed to talk him out of it by saying that it could land the executives in hot water, so he simply bowed his head instead,” Kang said. The 90-degree bow was an expression of the president’s “genuine appreciation,” Kang said. Participating in Monday’s announcement of investment plans were around 30 heads of government agencies and executives from major companies in the semiconductor, AI, energy and telecommunications sectors. By Goh Gyoung-ju, staff reporterPlease direct questions or comments to [english@hani.co.kr]
