South Korean Aluminum Company Investor Paid Trump $2 Million Amid Trade Dispute
The New Republic reports that Base Group, the main investor in South Korean aluminum company Korea Aluminum, paid $2 million to President Trump's holding company in 2025. The payment was disclosed on Trump's financial form as a 'nonrefundable development fee' for an unannounced golf course project. The Commerce Department had previously found in 2023 that Korea Aluminum evaded trade duties on Chinese-made aluminum, leading to a significant reduction in its U.S. exports. The Trump family has a longstanding business relationship with Base Group, which exclusively sells Trump-branded wine in South Korea and hosted Eric Trump in Seoul for a trade meeting. While no evidence of direct advocacy by Trump or his family was found, the payment raises conflict-of-interest concerns, especially given Trump's numerous foreign business ventures and his $2.2 billion in personal earnings during his second term.
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