Choi Tae-won: "The New Government Must Establish a Public-Private Cooperation System to Overcome National Challenges"

Chairman Chey Tae-won of the Korea Chamber of Commerce and Industry attended a meeting with President-elect Yoon Seok-yeol and the heads of six economic organizations at the Presidential Transition Committee in Tongui-dong, Jongno-gu, Seoul on the 21st, delivering a greeting./Photo by Yoon Dong-ju doso7@

[Asia Economy Reporter Oh Hyung-gil] "The government and the business community should establish a public-private cooperation system to use it as an opportunity to advance the domestic economy to the next level."

Choi Tae-won, chairman of the Korea Chamber of Commerce and Industry, once again emphasized 'public-private cooperation' to the incoming new government. Following his statement on the 29th at the Commerce Day ceremony that he would play a partner role for a 'public-private one team,' he mentioned public-private cooperation again.

On the 31st, Chairman Choi attended the 'Joint Academic Conference of Four Major Societies' held at the Korea Chamber of Commerce and Industry's international conference room in Seoul and said, "We started this year with hopes of overcoming the COVID-19 pandemic, but due to the expansion of geopolitical risks, rising raw material prices and exchange rates, and supply chain instability, national difficulties have increased," adding, "It is difficult to respond with the power of either the public or private sector alone, so it is necessary for the government and the business community to communicate closely and jointly establish countermeasures."

He said, "The business community must also shift its role from being an 'advisor' to national policies to becoming a 'partner,'" and added, "Companies need to be more active and thoughtful."

He also proposed institutional support for regional revitalization. Chairman Choi stated, "Corporate revitalization, fostering future industries, and economic security should be combined with policies that ease regional regulations and leverage regional characteristics," and added, "We need to build future industry growth infrastructure in regions by motivating companies to commercialize innovative ideas regionally and foster new industries tailored to each region's characteristics."

He further said, "Although economic development was achieved in a short period through industrialization, obstacles such as political conflicts, anti-business sentiment, and lack of trust still remain," and suggested, "We must raise the level of social development through new entrepreneurship and cooperation among social members."

President-elect Yoon Suk-yeol (read by Kwon Young-se, vice chairman of the Presidential Transition Committee) also emphasized in his congratulatory speech that "Our society faces various challenges and tasks, but above all, overcoming low growth and resolving polarization is urgent," and stressed, "Along with upgrading industrial structure and reorganizing industrial strategies, the institutions and culture of the entire economy and society must also be innovated."

He continued, "The fruits of growth through restoring market dynamism should lead to a virtuous cycle of welfare," and said, "The new government will promote rational public decision-making through the 'Digital Platform Government' and further encourage public participation."

Meanwhile, the Korean Societies of Management, Economics, Sociology, and Political Science surveyed and announced the key tasks that the Yoon Suk-yeol government should pursue, targeting 1,084 professors and experts who are members of the societies.

They identified sustainable creation of good jobs (96.3%) and pursuing diplomatic policies suitable for the US-China competition era (95.9%) as the top priority policies. Following these were household debt management for economic stability (94.5%), creating a society safe from crime (93.6%), policies addressing declining birth rates and population aging (93.2%), strengthening public education (92.8%), and respecting diversity and enhancing life opportunities for youth and adolescents (91.8%).

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