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Trump received $2 million from South Korean firm amid trade probe

financeJul 15, 202626686

The New York Times and the Boston Globe reported that a lead investor in a South Korean aluminum company paid $2 million last year to President Trump’s holding company while the company was contesting a Commerce Department trade case. A document described the transfer as part of a letter of intent and a “nonrefundable development fee” tied to a still-unannounced golf course project, according to the reporting. The Korean firm has spent years courting the Trump family, including selling Trump-branded wine in South Korea and hosting Eric Trump at its Seoul offices, the Times reported. The payment came as the Korean company challenged Commerce Department penalties on certain exports to the United States. The newspapers framed the payment as illustrating the conflict-of-interest minefield created by the president’s ongoing financial ties to foreign businesses. The disclosures have prompted calls from commentators and some lawmakers for the Justice Department and Congress to examine whether the payment poses ethical or legal problems.

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