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

KCCI and KITA Express Condolence Messages
KCCI Holds 'Moment of Silence' at New Year's Meeting
'Save the Local Markets' Event Postponed
KITA Cancels Executive Year-End Party

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

Amid the Jeju Air passenger plane disaster that resulted in 179 deaths, local residents visited the joint memorial altar set up at Muan Sports Park near Muan International Airport in Jeonnam on the 30th to pay their respects to the victims. Photo by Jang Jin-hyeong

According to the business community on the 30th, the Korea Chamber of Commerce and Industry (KCCI) issued a condolence message on the day, honoring the victims of the disaster and comforting their families. The KCCI stated, "We pray for the souls of the victims of this accident and extend our deepest condolences to the bereaved families who are in great sorrow," adding, "National support should not be spared to swiftly resolve this unfortunate accident, and the business community will also spare no effort or necessary support to realize a safe society."

At the business community’s New Year gathering scheduled for January 3 next year, a moment of silence will be held to honor the victims of the disaster and observe a time of mourning. The New Year gathering is the largest annual event in the business sector, where figures from the economy, politics, government, and labor sectors come together to exchange well-wishes and greetings.

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 overcome 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 community.

The 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.

The KCCI had planned a ‘Revitalize Alley Markets’ campaign, where about 20 executives and employees, including Senior Vice Chairman Park Il-jun and new staff, would visit Namdaemun Market 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 maintaining a calm and restrained atmosphere." 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 (KITA) also decided to cancel the executive year-end party scheduled for the day. At the opening ceremony on January 3 next year, a moment of mourning will be held for the victims of the Jeju Air disaster. In a condolence statement issued that day, KITA said, "The trade industry hopes that all of society will unite to resolve this accident and overcome the pain," and added, "We will actively participate in preparing measures to contribute to building a safe society so that such tragedies never happen again."

The Korea Federation of SMEs is considering postponing the New Year’s gathering planned for January 3 next year.

Individual companies are also reported to be canceling events planned for the year-end and New Year period, taking into account 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 at midnight on December 31 at Lotte World Tower. The ‘Countdown Show Light Now’ festival at Shinsegae Department Store’s Myeongdong main branch, organized by Jung-gu Office in Seoul, also faces uncertainty regarding its holding. Additionally, there is a noticeable atmosphere of postponing gatherings and New Year parties in various departments of companies.

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