The Business Community Mourns the 'Jeju Air Disaster'... Moves to Cancel or Scale Down New Year Events

KCCI Holds 'Moment of Mourning' at New Year's Meeting
'Reviving Alley Markets' Event Postponed
KITA Cancels Executive Year-End Party
SMBA Considers Postponing New Year's Gathering

As the Jeju Air passenger plane disaster that occurred in Muan, Jeollanam-do plunged the business community into deep sorrow, some scheduled events have been canceled or scaled down.

Firefighters are searching for fuel items at the site of the Jeju Air passenger plane collision and explosion accident that occurred at Muan International Airport, Jeonnam, 30 days ago. Photo by Kang Jin-hyung

According to the business community on the 30th, the Korea Chamber of Commerce and Industry (KCCI) decided to hold a moment of silence to honor the victims of the disaster during the New Year's gathering of the business community scheduled for January 3 next year.

The New Year's gathering of the business community is the largest annual event where figures from the business sector, politics, government, and labor gather to exchange greetings and well-wishes.

Despite the absence of the President and Prime Minister due to the unprecedented impeachment situation, the event was expected to be an occasion for the business community to unite in overcoming global economic uncertainties and reaffirm their determination for a new leap forward. However, with the addition of the Jeju Air disaster the day before, and the entire nation plunged into grief and shock, the event is expected to be conducted more solemnly than originally planned, with efforts to explore support measures from the business sector.

KCCI has sent invitations to about 500 figures from various sectors, including Samsung Electronics Chairman Lee Jae-yong, Hyundai Motor Group Chairman Chung Eui-sun, business leaders, heads of economic organizations, political figures, media representatives, and foreign diplomats in Korea, and is coordinating their attendance. However, the actual number of attendees may be smaller than expected.

KCCI had planned for about 20 executives and employees, including Executive Vice Chairman Park Il-jun and new staff, to visit Namdaemun Market on the same day to conduct a 'Reviving Alley Markets' campaign to boost domestic consumption, but decided to postpone the event considering the mourning period.

A KCCI official explained, "Although the event was prepared to help small business owners, we decided to postpone it with the intention of conducting it more quietly and with restraint." He added, "Since it has become difficult to encourage consumption promotion events and gatherings during the national mourning period, we plan to resume related activities after the mourning period and are currently monitoring the government's response while exploring additional support measures."

The Korea International Trade Association also decided to cancel the executive year-end party scheduled for the day. During the opening ceremony on January 3 next year, a moment of mourning for the victims of the Jeju Air disaster will be held.

The Korea Federation of Micro Enterprise is considering postponing the New Year's party planned for January 3 next year.

Individual companies are also reported to be canceling events planned for the year-end and New Year period in consideration of the designated national mourning period until the 4th of next month. It is also known that companies are reviewing support measures related to the accident.

Lotte Group is considering canceling the countdown event held every year before midnight on December 31 at Lotte World Tower. The 'Countdown Show Light Now' festival at Shinsegae Department Store's Myeongdong main branch, prepared under the auspices of Jung-gu Office in Seoul, also faces uncertainty regarding its holding. Additionally, there is a noticeable atmosphere of postponing gatherings such as company dinners and New Year's parties in various departments of each company.

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