Ryu Jin, Chairman of Hankyung Association, "At the Crossroads of Growth and Recession, Devoted to Role with the Original Spirit of Business Patriotism"

Revealed in 2025 New Year's Address
"Our Economy Faces Fierce Challenges"
"Strength to Overcome National Crisis Through Spirit of Unity and Cooperation"
Also Promises Role as 'Messenger' Conveying Business Community Voices
"Entrepreneurship Reignited... As K-Growth Engine"

Ryu Jin, Chairman of the Korea Economic Association (Chairman of Pungsan Group), stated in his 2025 New Year's message issued on the 29th under the name of the Korea Economic Association chairman that our country is once again "at a crossroads between growth and stagnation" next year, and said, "We will devote ourselves even more to the original role of the Korea Economic Association with the initial spirit of serving the nation through business."

Ryu Jin, Chairman of the Korea Economic Association, Yonhap News

Chairman Ryu first emphasized, "Considering the global economic conditions, our economy is facing fiercer challenges than ever before." He pointed out, "With the intensification of geopolitical risks and the spread of protectionism, the Trump administration, which prioritizes America First, is taking office," and "In advanced fields such as semiconductors, mobility, and artificial intelligence (AI), a transformative industrial structural change is rapidly underway." He continued, "Our economy is facing a low-growth era of around 1% as the basic strength is depleted due to low birth rates and aging population,

and even exports, which have been a pillar until now, are slowing down," expressing concern.

Amid this, he stressed the need to revive Korea's resilience that has overcome crises in the past. Chairman Ryu said, "Our people have the strength to wisely overcome even more difficult hurdles. That is the spirit of national unity and cooperation." He added, "From the moment of liberation, through the Korean War, the IMF financial crisis, the global financial crisis, and even COVID-19, we have overcome times of hardship with one heart."

Chairman Ryu pledged that the Korea Economic Association will "take the lead and run" to overcome the economic crisis next year. He said he would first focus on private economic diplomacy. Chairman Ryu especially stated, "We will become messengers who run on the ground to quickly and clearly deliver the voice of our companies to the world." He said, "We will closely cooperate with economic organizations of each country, as well as governments, think tanks, and opinion leaders," and "We will actively communicate with personnel of the new U.S. administration to reduce risks and expand opportunities."

He also said, "We will reignite entrepreneurial spirit." Chairman Ryu declared, "We will make this a new 'K-growth engine.'" He emphasized, "The essence of entrepreneurial spirit is indomitable challenge and bold innovation," and "2025 is the time to make entrepreneurial spirit the driving force that creates opportunities amid crisis and a new growth engine." He added, "We will become a 'Power House' that spreads and normalizes entrepreneurial spirit throughout society."

Finally, Chairman Ryu said, "In 2025, we will celebrate the 80th anniversary of liberation," and expressed his sincere hope that "the future of the Republic of Korea, restored through the noble sacrifices of countless patriotic ancestors and grown through the sweat and blood of all citizens and senior entrepreneurs, will shine even brighter."

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