Korean Politician Says President Should Grab Chaebol's Coattails - What's Behind This Dramatic Call?

The Desperate Diplomatic Call Nobody Expected

Have you ever witnessed a politician telling their president to literally grab someone's pants? Well, that's exactly what happened in South Korea on October 24th, 2025. Jang Ye-chan, former youth leader of the conservative People Power Party, made waves by declaring that President Lee Jae-myung should set aside his pride and grab retail magnate Jung Yong-jin's coattails to save Korea's tariff negotiations with the United States.

This isn't just political theater. With only one week left until the August 1st tariff negotiation deadline, South Korea finds itself in an unprecedented diplomatic crisis. The scheduled 2+2 trade talks between Korea and the US were abruptly canceled by Washington, leaving Korean officials literally stranded at the airport. Meanwhile, Japan successfully struck a deal with the US on July 22nd, securing a 15% tariff rate, while the European Union and China are actively negotiating. Korea? Still waiting for a phone call back.

What makes this situation even more dramatic is who Jang wants President Lee to turn to: Jung Yong-jin, the chairman of Shinsegae Group, a major Korean retail conglomerate. Why? Because Jung has something the Korean government desperately lacks - a direct line to Donald Trump himself.

The Billionaire Who Has Trump on Speed Dial

Jung Yong-jin isn't your typical Korean business tycoon. Over the past year, he's built an unexpectedly close friendship with Donald Trump Jr., the president's eldest son. In 2024 alone, Trump Jr. visited Korea three times at Jung's invitation. But the relationship goes deeper than casual visits.

In December 2024, Jung became the first Korean business or political figure to meet with President-elect Trump after the US election. He spent several days at Mar-a-Lago, Trump's Florida resort, where he had dinner with Trump and engaged in what he called deep conversations lasting 10-15 minutes on various subjects. Trump personally introduced Jung to Qatar's Emir Sheikh Tamim as my son's friend, according to sources.

The connection extends to Trump's business ventures too. Trump Jr. joined 1789 Capital as a partner in 2024, and the investment firm is now eyeing Korea as a potential investment hub, largely due to Jung's relationship with the Trump family. In April 2025, Trump Jr. visited Korea again at Jung's invitation, meeting with around 20 major Korean business leaders in relay-style meetings. The message was clear: Jung has access that even government officials can't secure.

When Diplomatic Channels Fail Spectacularly

The crisis Jang is referring to reads like a diplomatic nightmare. On July 24th, just one hour before Deputy Prime Minister Koo Yoon-cheol was scheduled to depart from Incheon Airport for the critical 2+2 trade talks in Washington, the US sent an email canceling the entire meeting. The reason given? US Treasury Secretary Scott Bessent had an urgent schedule. No further explanation was provided.

National Security Advisor Wi Sung-lac, who had already traveled to the US, couldn't even secure a meeting with Secretary of State Marco Rubio. South Korean media described it as an unprecedented diplomatic disaster. Online communities erupted with frustrated comments ranging from This is humiliating on the world stage to If this happened under a conservative government, the media would be screaming about alliance collapse.

Jang didn't mince words in his Facebook post, stating that Lee Jae-myung's government and the Democratic Party clearly cannot access Trump administration's core through official channels. He argued that Korea has been stamped as a yes-yes country watching the faces of North Korea, China, and Russia, while the supposedly solid Korea-US alliance is shaking. The cancellation came just days after Japan successfully negotiated their deal, leading many Koreans to wonder if their country had been pushed down America's priority list.

The 3,500 Billion Dollar Question

So what's actually at stake? Eventually, Korea did strike a deal on July 31st, but at what cost? The agreement reduced tariffs from the threatened 25% to 15%, matching Japan and the EU. However, Korea had to promise a staggering 3,500 billion dollars in investments to the US - triple the initial 1,000 billion dollar proposal. This includes 1,500 billion for shipbuilding cooperation, 1,000 billion for LNG and energy purchases, and 2,000 billion for investments in semiconductors, nuclear power, batteries, and bio industries.

Critics point out that Korea's negotiating position was severely weakened by the canceled talks and lack of direct access to Trump's inner circle. Japanese netizens reportedly mocked Korea online, saying Why does Korea get the same 15% rate when they're paying less? and We're annoyed that Korea got the same conditions. The sense that Korea could have negotiated better with proper channels is palpable.

This is where Jang's argument gains traction among worried Koreans. He insists that in front of Korea's crisis, the Lee Jae-myung government cannot pick and choose between hot and cold rice - a Korean idiom meaning you can't be picky during emergencies. He even called for President Lee to rein in prosecutors who raided Pastor Kim Jang-hwan, a Christian elder who communicates with Republican Party core members, and apologize for it. The subtext: stop alienating everyone who has connections to Trump's circle.

As of October 10th, 2025, with the APEC summit approaching, Korea is hoping for another chance to finalize details. Public opinion polls show 80% of Koreans believe negotiations should take time to reduce unfavorable terms rather than rushing. Yet the anxiety remains: without someone like Jung Yong-jin serving as a bridge, can Korea truly negotiate on equal footing with an America that seems to be giving Seoul the cold shoulder?