Yoon Holds First Meeting with Chey Tae-won and Top 10 Groups... Requests Cooperation for Busan Expo Bid

Yoon Seok-yeol, the president-elect of the 20th presidential election, is entering the policy meeting on "Overcoming Complex Crises and Economic Security Initiative for Advancing as a Global Hub Nation" at the Seoul International Forum (SFIA) held at the Four Seasons Hotel in Jongno-gu, Seoul, on the afternoon of the 18th. Photo by Transition Team Press Corps

[Asia Economy Reporter Oh Hyung-gil] President-elect Yoon Seok-yeol held his first meeting with representatives of the top 10 conglomerates and economic figures.

On the 22nd, President-elect Yoon attended the '2030 Busan World Expo Hosting Support Rally' held by the Korea Chamber of Commerce and Industry (KCCI) at the Busan Chamber of Commerce and Industry building, encouraging the business community and requesting cooperation for hosting the World Expo in Busan.

The event was attended by about 80 business leaders, including KCCI Chairman Chey Tae-won, chairpersons of chambers of commerce nationwide, Samsung Electronics President Lee In-yong, Hyundai Motor President Gong Young-woon, SK SV Chairman Lee Hyung-hee, LG President Ha Beom-jong, Lotte Holdings Vice Chairman Lee Dong-woo, POSCO President Jung Tak, and Nexen Group Chairman Kang Byung-jung, representing the top 10 conglomerates.

From the National Assembly and the transition team, Lee Heon-seung, head of the Busan Expo TF team of the transition committee, Seo Byung-soo, chairman of the National Assembly's special committee for hosting, Park Hyung-joon, Mayor of Busan, and Kim Young-joo, chairman of the Busan World Expo hosting committee, were present.

On this day, the president-elect proposed the co-chairmanship of the World Expo Hosting Committee to Chairman Chey, who readily accepted the proposal. Business leaders also agreed that "the 2030 Busan World Expo will be an opportunity for the Korean economy to take a new leap forward" and pledged to work wholeheartedly with the government to host the Expo. The president-elect and businesspeople nationwide also held an event sending paper airplanes carrying their wishes for the Expo hosting.

The World Expo is known as one of the world's three major international events along with the World Cup and the Olympics. The countries applying to host the 2030 Expo include Busan, South Korea, Riyadh, Saudi Arabia, Rome, Italy, and Odesa, Ukraine. The final selection will be made through a vote by 170 member countries of the International Bureau of Expositions (BIE) in November next year.

The business community plans to mobilize the global networks held by each company, actively utilizing overseas local sales networks and marketing channels to promote the hosting of the Busan World Expo. The KCCI will also actively use its network of chambers of commerce in over 160 countries, serving as the vanguard of economic diplomacy, linking with various global business forums to win votes from member countries.

The KCCI stated, "Looking at past experiences of hosting the World Cup and the Olympics, the role of companies and businesspeople was very important," and added, "We will unite all the capabilities of the business community for the Busan World Expo, which is a matter of national destiny."

Additionally, the KCCI held the first nationwide chamber of commerce chairpersons' meeting since Chairman Chey's inauguration. It was the first such meeting in three years since COVID-19. Chairman Chey shared with the chairpersons new key projects such as communication platforms, national development projects, and new entrepreneurship initiatives.

Regional chamber chairpersons voiced concerns about regional extinction, regulations, and labor burdens. One local chamber chairperson said, "Measures are needed to respond to regional extinction. Please provide incentives to companies located in local areas to strengthen regional competitiveness." Another regional chairperson said, "Labor difficulties are greatest due to the Serious Accident Punishment Act, the 52-hour workweek, and skilled labor shortages caused by low birth rates," and proposed enhancing labor market flexibility.

Woo Tae-hee, full-time vice chairman of the KCCI, said, "We will establish a new corporate role that meets the public's expectations to resolve anti-business sentiment while striving to enable companies to create better value," and added, "We will also actively respond to contemporary challenges such as climate change and carbon neutrality."

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