Trump Organization Receives $2 Million from South Korean Aluminum Investor Amid Trade Probe

Base Group Ltd., a key investor in Korea Aluminium, paid $2 million to President Donald Trump’s holding company in 2022 while the firm was under a Department of Commerce investigation for allegedly evading tariffs on Chinese aluminum. The payment was described in Trump’s financial disclosure as a “letter of intent” and a “nonrefundable development fee.”

Senate Democrats, including Elizabeth Warren, Richard Blumenthal and Andy Kim, sent a letter to Commerce Secretary Howard Lutnick demanding an explanation, saying the transaction “raises significant concerns about pay‑to‑play politics and the potential for bribery.” The Trump Organization says the money relates to a future golf‑course project and that no conflict of interest exists. The Commerce Department has issued a preliminary finding that could impose a 105% tariff on Korea Aluminium’s exports. The White House maintains the investigation is being handled transparently under statute.