A record 70 South Korean business leaders are expected to accompany President Park Geun-hye on her visit to China set to begin on June 27, business and political sources said Sunday.

Samsung Electronics Chairman Lee Kun-hee has reportedly decided not to travel to China, but most other business leaders, including Hyundai Motor Group Chairman Chung Mong-koo and LG Group Chairman Koo Bon-moo, will be included in the delegation, said the sources.

"The list of the business delegation to China is close to being finalized. As many as 70 business leaders are expected to take part in the delegation," said a source.

The 70-person delegation, if confirmed, will be the largest, as just 36 business leaders traveled with former President Lee Myung-bak to Beijing five years ago. During Park's visit to the United States last month, the number of business delegates totaled 51.

The South Korean business delegation, which will include conglomerate chairmen, and CEOs of small- and medium-sized companies and financial institutions, will hold a bilateral business cooperation forum with its Chinese counterpart in Beijing on June 28.

Park plans to visit China from June 27-30, stopping in Beijing for her first summit with Chinese President Xi Jinping before flying to Xian in western China on June 29 for a two-day visit.

Samsung chairman Lee flew to Japan on June 20 and is scheduled to stay there for the time being, according to Samsung officials. (Yonhap News)