Choi Tae-won: "Having Multiple CEOs Might Be Better... Let's Create a Korea-Japan 'Economic Bloc'"

The 46th KCCI Jeju Forum 'Management Talk Show'
Joining Forces to Find Solutions in the Era of Paradigm Shift

Taewon (second from the right), Chairman of the Korea Chamber of Commerce and Industry (KCCI) and Chairman of SK Group, is speaking as a panelist at the 46th KCCI Jeju Forum 'Management Talk Show' held on the 14th at the Jeju Haevichi Hotel & Resort. Photo by KCCI

"Does a CEO (Chief Executive Officer) have to be just one person? Having 'multi' (multiple CEOs) might be better."

Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry and SK Group, stated this on the 14th at the Jeju Forum hosted by the Korea Chamber of Commerce and Industry, held at the Haevichi Hotel & Resort in Jeju. Participating as a panelist in the 'Management Talk Show' program, Chairman Choi cited 'multi-leadership' as a solution in the era of paradigm shifts. He advised, "If there is a problem I am not familiar with, I should seek help from others. Whether it is artificial intelligence (AI) or the MZ generation, bring in someone knowledgeable and make them a CEO."

He continued, "There are issues where the chairman changes and there need to be multiple presidents," adding, "Internally, not only CEOs but various types of C-level executives (chief officers in different fields) form a team to manage the company." Chairman Choi mentioned the 'second act society,' saying, "Retirement only happens when an environment that allows me to retire is created," and added, "Changing governance will make us happier and make the second act society healthier."

At the 'Management Talk Show' that day, Chairman Choi joined Seoul National University Professor Song Jae-yong, Rebelion CEO Park Sung-hyun, and Daehaknaeil CEO Kim Young-hoon to brainstorm on how companies should respond to the era of great transformation. As one solution for the paradigm shift era, Chairman Choi proposed the creation of a 'fourth economic block' to follow the United States, China, and the European Union (EU). He emphasized, "The era when we could ride on China without major changes and gain profits is over. Since China has become a competitor and is taking away what we used to do, we now have to pioneer new markets."

He added, "We need to merge the markets we belong to with other markets to create a larger economic block," and said, "Currently, when the US and China impose certain rules, we have no means to resist, which is called a geopolitical crisis. To defend against this, we must grow to their size."

Chairman Choi mentioned forming an economic block with Japan, saying, "Japan will also realize that it is not wise to survive alone in this crisis," and added, "The EU has generated considerable synergy over the past 20 years, and we should move toward that model as well."

He also cited connecting inter-Korean transportation networks as an alternative. Chairman Choi said, "The first stage of unification is trans-passing (connecting transportation networks)," explaining, "We can break free from living like an island with one side blocked, and this is a paradigm shift and the easiest form of unification." He predicted, "Market changes are approaching us faster than expected," and said, "Globally, these changes will come in a form that forces survival." He concluded, "Maximizing adaptability is the most important issue."

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