Shinsegae chair likely to head Asian arm of pro-Trump Rockbridge

Chung Yong-jin, chairman of South Korea’s retail giant Shinsegae Inc., is likely to head the Asian operations of the Rockbridge Network, a group of pro-Trump donors, venture capitalists and entrepreneurs that is expected to wield growing influence over policy decisions in the Trump administration.

Chung, known for his close ties to US president’s eldest son Donald Trump Jr., has received an offer to chair the Silicon Valley-based donor network’s soon-to-be-launched Asian arm, according to industry sources on Wednesday.

Trump Jr. is a member of Rockbridge, co-founded by US Vice President JD Vance.

The Shinsegae Group chairman, a second-generation leader of the retail group split from Korea’s Samsung Group, has acted as a bridge between the Trump administration and Korean business leaders.

In April, he arranged back-to-back private meetings between Trump Jr. and top executives from major Korean conglomerates.

Last month, Chung also joined US President Donald Trump’s Middle East trip as the sole Korean business delegate.

Founded in 2019, the Rockbridge Network is a secretive yet increasingly powerful organization at the center of business, technology and Republican politics.

Its goal is to create a technology-oriented, right-of-center alliance, bringing donors, private equity leaders and CEOs together with high-level officials making the big decisions for the country, the New York Post quoted a Rockbridge insider as saying in April.

With fewer than 200 members, it holds twice-yearly conferences for networking, investment in tech companies and political fundraising, according to the US media outlet. Membership costs $100,000 per year.

Its invite-only members include Peter Theil, co-founder of US fintech company PayPal, and Rebekah Mercer, a Republican donor and member of Trump’s transition team this year.

Christopher Buskirk, a contributing writer for The New York Times and chief investment officer of 1789 Capital, is a co-founder of the Rockbridge Network.

Buskirk accompanied Donald Trump Jr. on his April trip to Seoul and participated in his meeting with Korean business leaders. He asked Korean companies to commit to 1789 Capital's investment funds.

At the Rockbridge Network's April conference, US Treasury Secretary Scott Bessent and US Health Secretary Robert Kennedy Jr. were among the key attendees.

Chung has served as a key link between the Trump administration and Korean business leaders amid a lack of formal diplomatic channels between Seoul and Washington following former President Yoon Suk Yeol’s ouster by the Constitutional Court last month.

Korean President Lee Jae-myung, who was sworn in early this month, has yet to hold a summit with US President Trump.

Write to Yeonhee Kim at yhkim@hankyung.com