Choi Tae-won: "Businesspeople's Innovation Is the Driving Force Behind Korea's Economy"

Commerce Day Ceremony: 200 Honorees, Three Receive Gold Tower Order

Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry, said on the 31st, "Every achievement made by businesspeople is the driving force of our economy."

Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry. Photo by Yonhap News Agency

Chairman Choi made these remarks in his commemorative address at the '53rd Commerce Day Ceremony' held at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul, on this day. The event was attended by Prime Minister Kim Min-seok, Vice Minister of Trade, Industry and Energy Moon Shin-hak, Chairman Choi, award recipients and their families, and around 400 other participants.

Chairman Choi stated, "Last year, Korea's economy saw increases in production, consumption, and investment for the first time in four years, and export performance also reached an all-time high. Although domestic demand was sluggish and tariff burdens grew, the government responded swiftly and the private sector joined efforts, enabling us to overcome these difficulties." He went on to stress the need for the resilience of businesspeople, even in the face of a challenging external environment caused by the recent Middle East crisis.

Chairman Choi said, "Back in 1974, when the first Commerce Day was held, the first oil shock led to unstable energy supplies and soaring prices. Even then, senior business leaders focused on technological innovation and productivity improvements. Their tenacity and execution became the foundation for today's Korean economy." He added, "Today, Korea possesses globally recognized industrial bases spanning semiconductors, automobiles, shipbuilding, defense, and cultural content. If we once again board the wave of AI transformation, today's situation will serve not as a challenge but as a springboard for a new leap forward."

Prime Minister Kim Min-seok, in his congratulatory speech, said, "I would like to express my gratitude and congratulations to the businesspeople who have contributed over the past 50 years as Korea advances toward becoming a global commercial powerhouse." He added, "While we are taking emergency economic measures as the Middle East conflict threatens to trigger a new energy shock, I believe we will ultimately overcome this crisis."

At the ceremony, Lee Seong-ho, Chairman of Unitech, Lee Jong-hoon, Chairman of Incheon City Gas, and Yoon Hye-seop, Chairman of Dain Precision, received the highest honor—the Gold Tower Order of Industrial Service Merit. Chairman Lee was recognized for independently developing ultra-low temperature adhesives for LNG carriers in 2007, achieving a 98% global market share and cumulative sales of 350 billion won, and for his 43-year dedication to localizing industrial adhesive materials.

Chairman Lee Jong-hoon was recognized for expanding industrial and power energy supply networks in cooperation with major industrial companies and for actively advancing renewable energy projects in line with government energy transition policies. Chairman Yoon Hye-seop contributed to the global expansion of the cutting tool industry by establishing production and sales bases in 17 countries across the Americas, Europe, and Asia.

The Silver Tower Order of Industrial Service Merit was awarded to Song Hyun-jong, President of SK hynix, and Kim Jae-san, CEO of Korea FT. President Song was recognized for his contribution to leading the global AI memory market, while CEO Kim was acknowledged for his achievements in securing a foothold in the future mobility market based on technological capabilities.

The Bronze Tower Order of Industrial Service Merit went to Jeong Byeong-gi, CEO of Keyang Precision, and Kim Jong-seop, CEO of Ecopro HN.

The Iron Tower Order of Industrial Service Merit was awarded to Lee Taek-seon, CEO of Osan Cinema, and Seo Kyung-ah, CEO of BLI. The Stone Tower Order of Industrial Service Merit went to Kim Jong-woo, CEO of Noroo Autocoating, and Lee Chang-won, CEO of KS System.

The Industrial Medal was awarded to Lee Jae-kyu, CEO of Fine M Tech, and five others. Park Jin-woo, Chairman of Hyupjin Connector, and 16 other individuals received the Presidential Commendation, while Kwon Young-joon, CEO of Yuwon Industry, and 15 others received the Prime Minister's Commendation, bringing the total number of honorees to 200.

Among the 17 companies honored with industrial orders and medals, the number of mid-sized and small enterprises increased from 14 last year to 16 this year, highlighting the remarkable progress of small and medium-sized enterprises with technological prowess.

Kang Myung-soo, Head of Member Cooperation at the Korea Chamber of Commerce and Industry, said, "This ceremony highlights the achievements of businesspeople who have built the national economy and serves as a platform to share future visions. Based on the resilience demonstrated in overcoming crises through innovation amid difficult economic conditions, the government and companies will work together to achieve a new leap forward."

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