Choi Tae-won: "If asked to continue as Chairman of the Korea Chamber of Commerce and Industry, I will do so"

January 2nd Economic Community New Year's Meeting

Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry and SK Group. Photo by Moon Chae-seok

Choi Tae-won, chairman of SK Group and the Korea Chamber of Commerce and Industry (KCCI), hinted at his intention to seek reappointment as KCCI chairman on the 2nd.

After the '2024 Economic Community New Year's Meeting' held at the Korea Federation of SMEs building in Yeouido, Seoul, on the morning of the same day, Chairman Choi responded to reporters' question, "Have you made up your mind about reappointment as (KCCI chairman)?" by saying, "If they ask me to, I will do it more."

Choi Tae-won, who took office as KCCI chairman in March 2021, will see his term expire this March. The term for the KCCI chairman is three years, with the possibility of one reappointment. Among the heads of Korea's four major conglomerates, Choi is the first to serve as KCCI chairman.

In a press conference with the KCCI press corps last December, Chairman Choi said about the possibility of reappointment next year, "There is still time left, so I will listen to others' opinions and reflect on myself," adding, "I will take some rest at the end of the year and make a decision after giving it more thought."

Regarding the new year's management policy, Chairman Choi said, "Management and operations need to be well tuned." When asked if this meant that change was necessary, he replied, "It means that things need to be well organized," adding, "Organizing does not mean cutting someone off but rather harmonizing well."

When asked about the outlook for SK Hynix's High Bandwidth Memory (HBM) semiconductors this year, he was reserved, saying, "NAND flash is at a sleeping level."

The economic community New Year's meeting was jointly hosted by the Korea Chamber of Commerce and Industry and the Korea Federation of SMEs. The purpose was for large corporations, small and medium enterprises, startups, and the government to unite as one team to invigorate South Korea's economy and the livelihood economy in the new year. The event was attended by President Yoon Suk-yeol, Choi Tae-won, chairman of the Korea Chamber of Commerce and Industry (SK chairman), Ryu Jin, chairman of the Korea Economic Association, Sohn Kyung-shik, chairman of the Korea Employers Federation, Kim Ki-moon, chairman of the Korea Federation of SMEs, Choi Jin-sik, chairman of the Korea Association of Mid-sized Enterprises, Lee Jae-yong, Samsung chairman, Chung Eui-sun, Hyundai Motor chairman, Koo Kwang-mo, LG chairman, Shin Dong-bin, Lotte chairman, Kim Dong-kwan, Hanwha vice chairman, Heo Tae-soo, GS chairman, Chung Yong-jin, Shinsegae vice chairman, Koo Ja-eun, LS chairman, Park Jung-won, Doosan chairman, Cho Hyun-joon, Hyosung chairman, Kwon Oh-gap, HD Hyundai chairman, Hyun Jeong-eun, Hyundai Group chairwoman, Kim Young-seop, KT CEO, and about 400 other economic, government, and regional chamber chairpersons gathered.

In his greeting at the event, Chairman Choi said, "There are many hopeful forecasts that the economy in the new year will be better than last year, but there is also concern that the speed, depth, and breadth of recovery may not reach all economic actors evenly," adding, "I hope cooperation between large enterprises, mid-sized companies, and small businesses, between companies and workers, and between the private sector and government will be strengthened."

He continued, "Our businesspeople have always turned crises into engines of innovation and worked as protagonists of change," emphasizing, "I hope our entrepreneurial spirit will be demonstrated so that we do not get swayed by immediate profits and losses but look further into the future and sow the 'seeds of future industries.'"

He said economic and social issues are inseparable as 'one body.' Chairman Choi stated, "We face numerous problems such as low birthrate, declining working population, regional extinction crisis, and climate issues," adding, "These problems, like low birthrate and regional extinction, are difficult to solve with individual policies and require a 'solution package' to be addressed all at once. I believe that if stakeholders continuously gather to exchange ideas and find solutions, better alternatives will emerge."

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