Choi Jin-sik, New Chairman of Junggyeonryeon, "Resolve Anti-Business Sentiment, Strengthen Cooperation Among Economic Organizations"

Inaugurated as the 11th President of Junggyeonryeon

Chairman Choi Jin-sik

[Asia Economy Reporter Kim Cheolhyun] Choi Jinsik, chairman of Simpac, has been inaugurated as the 11th president of the Korea Federation of Medium-sized Enterprises (KMFME). On the 24th, KMFME held its '2022 General Assembly' at the Grand Hyatt Seoul in Yongsan-gu, Seoul, and announced that Chairman Choi was unanimously elected as the 11th president. Chairman Choi's term is three years, until February 2025.

Chairman Choi graduated from Dongguk University with a degree in Trade and from Yonsei University Graduate School of Business. He served as director of the Corporate Finance Division at Dongyang Securities (now Yuanta Securities) and executive director at Hannuri Investment Securities (now KB Investment Securities). After the Asian financial crisis, in 2001, during the dissolution of Ssangyong Group, he acquired Ssangyong Precision and renamed it Simpac. Simpac is a specialized ferroalloy company and a leading medium-sized enterprise in the domestic press industry.

In his inaugural speech, Chairman Choi stated, "Enterprises are the source of all national wealth and the central agents of production and trade," adding, "I will do my best to achieve real change that leads new growth by relying solely on the trust of the medium-sized enterprise sector." He further emphasized, "First, we will establish a base to fundamentally resolve the widespread anti-business sentiment in our society, and second, we will strengthen close cooperation with all economic organizations to seek appropriate reconciliation between businesses and society under short-, medium-, and long-term perspectives and planning." Based on this, Chairman Choi aims to enhance the role and value of medium-sized enterprises.

He proposed, "Beyond the interests of individual companies or groups of companies, it is also the natural duty of economic organizations to cooperate to overcome the deteriorating national economic situation," suggesting, "As a clear example, we can prioritize reviewing ways to increase the disposable income of the so-called 'soft wallets,' the core members of companies."

Chairman Choi also stressed, "In the pandemic era, which reaffirmed the truth that survival is impossible without togetherness, the declaration that one step taken together is more valuable than ten steps alone remains valid," adding, "Beyond maximizing profits, I will do my best to elevate the status of medium-sized enterprises as key agents driving the progress of the era and as the center of solidarity, optimizing benefits for all."

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