South Korean firm paid Trump holding company $2 million in 2025

A South Korean holding company paid President Trump's holding company $2 million last year, according to his annual financial disclosure released in late June. The payment came from Base Group, the parent of Korea Aluminium, which has faced Commerce Department penalties over aluminum exports to the United States.

The filing described the sum as part of a letter of intent and a nonrefundable development fee.

Organization stated the payment relates to a still-unannounced golf course project. Alan Garten, chief legal officer for the Trump Organization, said the transaction was unrelated to the trade dispute. "We have been in the golf, hospitality and real estate business for decades and have entered into transactions with countless companies around the world," Garten said in a statement.

Company background Base Group has maintained ties with the Trump family since at least 2017, when a subsidiary began importing Trump-branded wine from Virginia. The company hosted Eric Trump at its Seoul headquarters in February, where executives discussed expanding trade between South Korea and the United States.

Korea Aluminium has reduced exports to the United States after the Commerce Department found that South Korean firms circumvented duties on Chinese-made aluminum. Base Group disputed any violation of U.S. trade rules.

Context of foreign payments The $2 million payment is part of at least $125 million Trump’s holding company received last year from foreign sources across multiple countries. A White House spokesperson said Trump had not been involved in the trade dispute.

"There are no conflicts of interest, and the only special interest guiding the Trump administration’s decision-making is the best interest of the American people," Kush Desai, a White House spokesperson, said in a statement.