US Democrats Target South Korean Firm Over USD 2 Million Payment to Trump Family Business, Calling It "Potential Bribe"

The U.S. Democratic Party has launched an investigation into a South Korean company that transferred 2 million dollars, equivalent to about 3 billion won at the time, to President Donald Trump's family business last year, viewing the payment as a potential "bribe."

The company in question is Basis Group, which engages in wine and golf course businesses with President Trump's family. Its affiliate, Hankook Aluminium, is currently facing a trade dispute with the U.S. administration.

Democratic Senators Elizabeth Warren (Massachusetts), Richard Blumenthal (Connecticut), and Andy Kim (New Jersey) urged the Trump Organization, the Trump family business, to disclose the purpose of the 2 million dollars received from Basis Group in a letter, the Washington Post (WP) reported on the 6th, local time.

The money transferred by Basis Group last year was made public in June through President Trump's financial disclosure reports.

The purpose of the payment was listed as a "letter of intent" and part of a "nonrefundable development fee."

Democratic lawmakers pointed out in the letter that the transaction "raises significant concerns regarding quid pro quo politics and potential bribery."

Shortly after President Trump's financial disclosure was released, the U.S. Department of Commerce made a preliminary determination to impose a 105% tariff on Hankook Aluminium's exports to the United States.

Democratic lawmakers argue that the parent company, Basis Group, may have handed over the money to President Trump's family business to sweep the issue under the rug.

"If the Trump administration were to ease these sanctions, it would provide a substantial financial windfall to Basis Group," they said.

Hankook Aluminium is a subsidiary of Cammsys, a construction affiliate of Basis Group.

It sells aluminum foil products used for prescription drug packaging and ice cream cone containers, and was singled out as one of the companies that circumvented U.S. tariffs to export Chinese aluminum.

Democratic lawmakers argued, "If Basis Group sought to buy influence with President Trump to secure lower tariffs or an exception for specific stakeholders at Hankook Aluminium, this would be a particularly egregious example of corruption within the Trump administration."

In February, Basis Group invited Eric Trump, executive vice president of the Trump Organization and President Trump's second son, to its Seoul headquarters, where Eric met with figures from South Korea's political and business circles.

The New York Times (NYT) previously reported that Group Chairman Kim Sung-jip visited Washington, D.C., to attend President Trump's inauguration last year, followed by a meeting with Eric Trump in the spring of the same year at Trump National Doral Golf Club in Florida, putting effort into building personal ties with the Trump family.

Basis Group's distribution affiliate, Kumyang International, imports and sells wine produced at the Trump Winery in Virginia, and Cammsys appears to have established ties with the Trump Organization through real estate projects, according to the NYT.

During his visit to South Korea last year, Eric Trump toured a golf course site that a local government is pursuing as a candidate location for a hotel and entertainment complex.

The Trump Organization explained that the 2 million dollars in question is unrelated to aluminum exports and stems from a letter of intent signed in August of last year regarding golf course operations.

The Trump Organization reiterated its position to the WP the previous day, stating, "Any assertion that this transaction was driven by factors other than legitimate business considerations is entirely fictitious."

Basis Group also previously told the NYT that the 2 million dollars given to President Trump's side was related to an unannounced golf course project and had nothing to do with the aluminum export trade dispute.

Democrats believe that Basis Group fits a recurring pattern in which corporations or foreign governments make donations to President Trump's family business, his campaign funds, or White House ballroom projects and subsequently secure favorable policy outcomes.

The WP reported that Democrats are also investigating whether the U.S. administration's easing of export controls on the United Arab Emirates (UAE) is linked to UAE investments in the Trump family's cryptocurrency business.

(Photo: AP, Yonhap News)
※ Please note: This article was translated by AI and may contain errors.