South Korean company paid Trump $2 million amid Commerce Department trade investigation

Donald Trump's holding company received a $2 million payment from Base Group, a major investor in a South Korean aluminum firm, while that firm was under a trade investigation by his Commerce Department. The Trump Organization described the payment as a legitimate fee for a future golf course project. The transaction, disclosed in June, has renewed conflict-of-interest concerns about Trump's foreign business dealings as president.

Base Group payment to Trump

• ▪The financial disclosure form described the payment as a "nonrefundable development fee" and part of a "letter of intent."
• ▪The Trump Organization stated the payment is part of a deal for a golf course project that has not yet been announced.
• ▪Base Group, a top investor in a South Korean aluminum firm, paid Donald Trump's holding company $2 million last year.
• ▪Donald Trump disclosed the payment from Base Group in his financial disclosure form in late June.

Korea Aluminum trade investigation

• ▪Following the Commerce Department's 2023 finding, Korea Aluminum significantly cut its exports to the U.S.
• ▪The payment was made while Korea Aluminum, a firm linked to Base Group, was fighting a trade case before the Trump administration's Commerce Department.
• ▪In 2023, the Commerce Department found that Korea Aluminum had skirted trade duties on aluminum made in China.

Trump family business relationships

• ▪In February, Donald Trump's son Eric met with Base Group at its Seoul headquarters to discuss increasing trade between the U.S. and South Korea.
• ▪The Trump family has a longstanding relationship with Base Group, which is the exclusive seller of Trump-branded wine in South Korea.

Presidential conflicts of interest

• ▪The New York Times reported finding no evidence that Donald Trump or his family members tried to advocate for Base Group or Korea Aluminum with government officials.
• ▪The $2 million payment has raised new questions about conflicts of interest regarding Donald Trump's business ties during his presidency.
• ▪Alan Garten, chief legal officer for the Trump Organization, called any suggestion that the transaction was improper "pure fiction."

Trump wealth accumulation in office

• ▪Donald Trump has earned an estimated $2.2 billion during his second term as president from ventures including cryptocurrency, foreign real estate, and stock trading.
• ▪Critics have raised concerns that Donald Trump used the presidency to increase his personal wealth, in potential violation of the Constitution's Emoluments Clause.

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