Seoul: South Korean businesses' spending on lobbying in the United States has more than doubled over the past five years, data showed Wednesday, in line with their efforts to address Washington's industrial policies. Major South Korean companies spent a combined US$35.32 million on lobbying activities in the U.S. last year, up 41.8 percent from a year earlier amid the U.S. presidential election.

According to Yonhap News Agency, the amount marked a sharp rise from $15.53 million in 2020. In 2024, seven South Korean conglomerates, including Samsung, Hyundai Motor, and Hanwha, each spent more than $1 million on lobbying activities.

Samsung Group, which holds Samsung Electronics Co. and Samsung SDI Co. under its wing, spent $8.62 million last year, the largest amount among all South Korean conglomerates. SK Group followed with expenditures of $7.08 million, and Hanwha Group spent $6.05 million.

Hyundai Motor Group and Coupang allocated $4.78 million and $3.31 million, respectively, to their lobbying efforts, the data showed. LG Group's lobbying expenses amounted to $1.34 million. "South Korean companies apparently expanded lobbying expenditures to prepare for political risks during the U.S. presidential election, along with efforts to address U.S. industrial policies," the industry tracker stated.