Ryu Jin, Chairman of Hankyung Association, "In the Era of Great Transformation, Government, Companies, and People Must Unite"

37th Hankyung CEO Jeju Summer Forum Opens from 10th to 13th
Former President Lee Myung-bak Shares Experiences as President, Businessman, and Seoul Mayor
Special Lectures by Han Young-joo, Hana Financial Group Chairman, and Shin Hyun-woo, Hanwha Aero President

Former President Lee Myung-bak (right) and Ryu Jin, Chairman of the Korea Economic Association (left), attended the "2024 KEA CEO Jeju Summer Forum" held on the 10th at Lotte Hotel Jeju in Seogwipo, Jeju.
[Photo by Moon Chae-seok]

"To enable our companies to withstand the waves of the era's transition, it is necessary to eliminate groundless anti-business sentiment and unreasonable regulations."

Ryu Jin, Chairman of the Korea Economic Association, made this appeal during the opening remarks at the '2024 KEA CEO Jeju Summer Forum' held on the 10th at Lotte Hotel Jeju in Seogwipo, Jeju Island.

Chairman Ryu said, "Since taking office, I have been doing my best to fulfill the promise to lead the Korean economy to join the Group of Seven (G7)," adding, "At this historical turning point called the era's transition, the government, businesses, and the people must unite and give their all."

Ryu Jin, Chairman of the Korea Economic Cooperation Association. [Photo by Korea Economic Cooperation Association]

He pointed out that regulations such as the expanded duty of directors are hindering corporate management. Although this was excluded from the Ministry of Economy and Finance's 'Dynamic Economy Roadmap' capital market advancement plan announced on the 3rd, concerns remain high in the business community.

Chairman Ryu expressed concern, saying, "Our companies are already struggling to cope with the waves of this great transition era, yet groundless anti-business sentiment and outdated, unreasonable regulations still hold us back. Recently, there has been significant worry in the economic sector about the discussions on expanding the duty of directors."

He added, "A more cautious and rational approach is needed to prevent foolish mistakes like 'cutting the bridge to kill the ox'." The phrase means that excessive measures to correct a fault can cause more harm than good.

Chairman Ryu stated, "As the times demand a leading role from our businesspeople, executives must boldly lead the challenges and innovations that confront this era's transition," and "The KEA will serve as a reliable bridge among the government, businesses, and the public."

Former President Lee Myung-bak. [Photo by Hankyung Association]

Former President Lee Myung-bak also delivered a keynote speech. He shared his experiences and wisdom as a businessperson, Seoul mayor, and president with the forum participants, presenting directions for South Korea and its companies to move forward.

The KEA explained that the summer forum is the premier knowledge exchange platform for the economic sector. Top experts and business executives from key fields provide CEOs with corporate growth strategies, new business visions, and insights. It also offers diverse cultural events and networking activities.

This year marks the 37th forum, with the main theme focusing on innovation to become a top-tier company amid the era's transition.

Lectures from business leaders vividly reflecting industry voices include Ham Young-joo, Chairman of Hana Financial Group, discussing "Changes and Innovations Hana Financial Group is Preparing for in the Great Transition Era," and Shin Hyun-woo, President of Hanwha Aerospace, explaining "Why Global Companies Are Focusing on Space."

Expert lectures on future industry trends and visions include Professor Shin Chang-hwan of Korea University’s Department of Semiconductor Engineering on "The Direction of the Semiconductor Hegemony War and Our Companies' Strategies," and Bae Kyung-hoon, Director of LG AI Research Institute, on "The World Changed by AI and Our Future."

Additionally, programs cover ▲How Korean companies should respond to international disputes ▲ESG (Environmental, Social, and Governance) management strategies ▲Future trends every executive must know ▲Health management to slow aging.

During the forum, cultural lectures and concerts will also be held. Performances include an emotional concert by Jeju’s longest-standing private orchestra and a show by singer Insooni, who is enjoying a second heyday as a member of the Golden Girls.

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