SK Chairman Chey Tae-won Likely to Become Next Chairman of Korea Chamber of Commerce and Industry

First Chairman of the Korea Chamber of Commerce and Industry Likely from the Heads of the 4 Major Groups, KCCI's Status Expected to Strengthen

Choi Tae-won, Chairman of SK

[Asia Economy Reporter Changhwan Lee] Chey Tae-won, chairman of SK Group, is reportedly a strong candidate for the next chairman of the Korea Chamber of Commerce and Industry (KCCI). This would be the first time that the chairman of the KCCI comes from the top four conglomerates, which is expected to elevate the status of the KCCI.

According to industry sources on the 7th, the Seoul Chamber of Commerce and Industry plans to hold a board meeting in early next month to nominate a candidate to succeed Chairman Park Yong-man.

The Seoul Chamber's board consists of 24 members, with the current KCCI chairman Park Yong-man concurrently serving as the chairman of the Seoul Chamber. There are 23 vice chairmen, including Kim Young-dae, chairman of Daesung Industrial; Chung Mong-yoon, chairman of Hyundai Marine & Fire Insurance; Hyun Jeong-eun, chairman of Hyundai Group; Cho Won-tae, chairman of Korean Air; Chung Yong-jin, vice chairman of Shinsegae Group; and Seo Kyung-bae, chairman of Amorepacific.

The chairman of the Seoul Chamber is elected from among these 24 board members, and typically, the Seoul Chamber chairman concurrently serves as the KCCI chairman.

After discussions with senior business leaders, Chairman Park Yong-man reportedly selected Chey Tae-won, chairman of SK Group, as the most suitable candidate for the next chairman from multiple candidates and decided to nominate him as the sole candidate at the board meeting scheduled for early next month.

If Chairman Chey is nominated as the chairman of the Seoul Chamber, he will be officially elected at the extraordinary general meeting following the regular general meeting around the 23rd to 24th of next month, and will also assume the position of KCCI chairman. However, since Chairman Chey is not currently a member of the board, the SK㈜ side is expected to replace President Jang Dong-hyun with Chairman Chey at next month’s general meeting. Chairman Park Yong-man’s term ends in March.

Chairman Chey has recently expressed his commitment to taking the lead in fulfilling the new roles society demands from business leaders. At a forum on October 30, he stated, "While there is a positive view that our companies have contributed to economic development by growing in size and pursuing profits, it is also true that there has been significant negative perception," adding, "As a business leader, I am facing reality soberly and feel a great sense of responsibility."

He said, "Companies must now perform new roles as members of society based on diversity and empathy," and added, "I will not only contemplate how to fulfill responsibilities and roles toward various stakeholders as a business leader but also actively practice the new responsibilities and roles assigned to companies." These remarks were interpreted by the business community as a positive response from Chairman Chey to the request to become KCCI chairman.

The business community is expressing expectations for the strengthening of the KCCI’s role, as no chairman from the top four conglomerates has ever led the KCCI. A business official said, "As the role of the KCCI as a representative economic organization of the business community has recently increased, we expect that if Chairman Chey is nominated as chairman, communication in various areas will expand."

This content was produced with the assistance of AI translation services.