Hankyung Association Launches Executive Council for Economic Issue Response

Samsung Electronics, SK, and Over 20 Major Companies Comprise the Group

The Korea Economic Association has launched the ‘Global Economic Issues Response Executive Council’ to secure practical benefits for our companies amid rapidly changing international circumstances. The council, composed of about 20 major companies including Samsung Electronics, SK, Hyundai Motor Company, LG, POSCO, and Lotte, plans to invite government officials and experts quarterly to exchange information on key global issues and discuss measures for joint responses.

Foreign Minister Park Jin (fifth from the left in the front row), Ryu Jin, Chairman of the Korea Economic Association (sixth from the left in the front row), and other executives in charge of global business are attending the "Global Economic Issues Response Executive Council" held at the FKI Tower Conference Center in Yeouido on the 5th, posing for a commemorative photo.

On the morning of the 5th, the Korea Economic Association held the inaugural meeting of the Global Economic Issues Response Executive Council at the FKI Tower Conference Center in Yeouido, inviting Foreign Minister Park Jin. The meeting discussed the economic security environment surrounding Korea in 2024 and response measures from the perspective of the Korean economy. Executives in charge of global business from the 20 member companies participated in the council.

Ryu Jin, Chairman of the Korea Economic Association, said in his opening remarks, “With simultaneous outbreaks of wars, supply chain restructuring, protectionist trade policies such as the US Inflation Reduction Act (IRA), and the establishment of various environmental regulations, external risks have become the new normal for companies. To quickly share situations and respond together, the government and companies must move as Team Korea on the international stage,” emphasizing the need for unified action.

Foreign Minister Park Jin participated as a special speaker at the first meeting of the Executive Council. In his speech titled ‘Global Economic Security Environment and Our Response Direction,’ he introduced strategies for sales diplomacy and economic security diplomacy aimed at strengthening our economic security and revitalizing the livelihood economy. He also stressed the importance of public-private communication and cooperation to achieve these goals.

Kim Bong-man, Director of the International Headquarters of the Korea Economic Association, stated, “Cooperation among companies and joint public-private responses are urgently needed regarding global issues. As a global think tank, the Korea Economic Association will actively respond to facilitate smooth global business activities for companies.”

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