Trump Paid $2 Million by South Korean Company Facing Trade Investigation

Key Points:

• Base Group, the lead investor in a South Korean aluminum company challenging U.S. Commerce Department penalties, made a $2 million payment last year to President Trump’s holding company, disclosed in Trump’s financial disclosure form.
• The payment was described vaguely as part of a “letter of intent” and a “nonrefundable development fee,” reportedly linked to an unannounced golf course project involving the Trump family.
• Base Group has cultivated a close relationship with the Trump family over nearly a decade, including selling Trump-branded wine in South Korea and hosting Eric Trump at its Seoul headquarters to discuss increasing U.S.-South Korea trade.
• This relationship coincides with Korea Aluminium, affiliated with Base Group, reducing exports to the U.S. after being found by the Commerce Department to have circumvented trade duties on Chinese aluminum.