Mathias Cormann, OECD Secretary-General: "Corporate Innovation is the Key to Global Economic Recovery"

KCCI Hosts OECD Secretary-General
Lecture on "Global Economic Recovery Outlook and the Role of Innovation"
Woo Tae-hee, KCCI Vice Chairman
"Structural Issues Like Global Supply Chain Crisis"
"Must Be Solved Through Corporate Innovation"

[Asia Economy Reporter Donghoon Jeong] The Korea Chamber of Commerce and Industry (KCCI) invited Mathias Cormann, Secretary-General of the Organisation for Economic Co-operation and Development (OECD), on the morning of the 9th to hold a lecture titled "Global Economic Recovery Outlook and the Role of Innovation."

About 20 representatives from companies and research institutions attended the lecture, including Ko Hyung-kwon, Ambassador to the OECD; Woo Tae-hee, Executive Vice Chairman of KCCI; Lee Hyung-hee, SV Chairman of SK Supex Council; Lee In-yong, President of Samsung Electronics; Lee Woo-hyun, Vice Chairman of OCI; Yoon Yeol-hyun, President of Kyobo Life Insurance; Heo Yong-seok, President of Hyundai Research Institute; Kim Jung-kwan, CEO of Doosan Management Research Institute; Lim Byung-yeon, Director of Lotte Future Strategy Institute; Park Jin-won, Head of Policy Research Center at LG Management Research Institute; Jung Chul, Senior Fellow at Korea Institute for International Economic Policy; and Han Sung-soo, Head of POSCO International, among others.

Secretary-General Cormann visited Korea to attend the OECD Southeast Asia Regional Program (SEARP) ministerial meeting jointly hosted by the OECD and the Ministry of Foreign Affairs of the Republic of Korea. As the first OECD chief from the Asia-Pacific region, Cormann, an Australian national, took office in June last year.

Secretary-General Cormann stated that the OECD was established with the purpose of jointly addressing global economic issues through mutual policy coordination and cooperation among member countries. He mentioned that the OECD will play a full role in responding to recent global trade issues such as the introduction of digital taxes, which regulate the allocation of taxing rights on multinational corporations, and climate change response through the carbon border adjustment mechanism.

Before the lecture, Woo Tae-hee, Executive Vice Chairman of KCCI, emphasized the importance of corporate innovation in responding to risks such as the recent global supply chain crisis and the slowdown in China's economic growth. Vice Chairman Woo said, "Korea started in the 1960s as a simple assembly industry and went through the era of 'Made in Korea' with our own technology in the 2000s," adding, "In the 2020s, we must move toward 'Innovated in Korea,' where corporate innovation drives growth, to survive."

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