Chairman Chey Tae-won: "Economic Organizations Must Actively Play a Role in Creating Social Value"

Choi Tae-won Elected New Chairman of Korea Chamber of Commerce and Industry Unanimously
"Structural Economic Shock, Goals Amid Low Growth Trend but Methodology Still Under Consideration"

Choi Tae-won, New Chairman of the Korea Chamber of Commerce and Industry

[Asia Economy Reporter Hwang Yoon-joo] Choi Tae-won, chairman of SK Group, who was officially elected as the chairman of the Korea Chamber of Commerce and Industry (KCCI), emphasized the role of economic organizations in 'social value.' This is interpreted as a move to highlight not only the voices of the business community but also the public nature of corporations.

The Korea Chamber of Commerce and Industry announced on the morning of the 24th that it held a general assembly at the Sangyohui Building on Namdaemun-ro and unanimously elected Choi Tae-won, chairman of SK Group, as the 24th chairman of KCCI. With this, Chairman Choi will serve his term until March 2024.

Chairman Choi was born in Suwon, graduated from Shinil High School and Korea University with a degree in Physics, and completed an integrated master's and doctoral program in Economics at the University of Chicago Graduate School. He has been serving as SK chairman since 1998.

Immediately after his election, Chairman Choi said in his greeting, "KCCI's role as an economic organization to resolve corporate difficulties will grow amid the structural economic shocks caused by COVID-19 and the ongoing low-growth trend," adding, "Economic organizations must also play a more active role in creating social value demanded by the times."

He continued, "We will gather the expectations and demands of stakeholders surrounding KCCI as much as possible to prepare concrete measures," adding, "Although there are goals and purposes, there is currently no specific methodology to overcome this situation."

Following his election as chairman of the Seoul Chamber of Commerce, Chairman Choi's first official action was to engage in a 'Dialogue with Startups.' At this event, he stated, "The role of companies is not only to make money but to create both economic and social value together."

Just before assuming the chairmanship of KCCI, he also met with regional chamber chairpersons and announced the establishment of a 'Regional Economy Team' within the Seoul Chamber of Commerce, saying, "We will establish a Regional Economy Team at KCCI to jointly promote regional economic revitalization." This is interpreted as a commitment to strengthening the public nature of economic organizations.

Meanwhile, at the general assembly held that day, in addition to the agenda for electing the KCCI chairman, the election of KCCI executives and the appointment approval of the full-time vice chairman were confirmed. Chairman Park Yong-man was appointed as honorary chairman of KCCI.

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