New KCCI chief vows better communication with society

Korea Chamber of Commerce and Industry (KCCI) Chairman Chey Tae-won speaks during a virtual meeting with 50 people from different parts of society at the KCCI in downtown Seoul, Monday. The meeting replaced Chey's supposed inauguration ceremony after officially beginning his term, March 24. Yonhap

By Yi Whan-woo

Korea Chamber of Commerce and Industry (KCCI) Chairman Chey Tae-won held a virtual meeting, Monday, with businesspeople from small and large enterprises, to represent the voices of a wider range of businesses.

The meeting was the first official event since Chey, also SK Group chairman, officially began his term with the KCCI, March 24. He was also joined by leaders of unions, civic groups, environmental organizations and bureaucrats.

The meeting replaced Chey's supposed inauguration ceremony after officially beginning his term, March 24.

The KCCI explained the format was designed to show its willingness to listen not only to the large firms, many of them the chamber's members, but also people from different parts of society.

"An enterprise is a part of society and it needs to think together on sustainable development and take part in winning the trust of the people," Chey said. "I will actively communicate with involved parties to settle any possible problems (during my term)."

More than 70 people participated in the meeting. They had a chance to share their expectation toward the chamber through text messages.

Among the topics brought up were environmental, social and corporate governance (ESG) values and joint prosperity.

"I will take these into account and will pursue partnerships accordingly," Chey said.

With Chey in power, the KCCI for the first time is led by a corporate leader from one of the country's four largest conglomerates ― Samsung, Hyundai, SK and LG.

This raises expectations for the KCCI to deal with the economic crisis, anti-chaebol sentiment and regulations that make it difficult for businesses to survive, especially in the COVID-19 era.

Meanwhile, Chey underlined the need for enhanced exchanges in a letter sent to the chiefs of the Chinese and Japanese chambers of commerce, Sunday.

For joint prosperity with China, Chey proposed to China Council for the Promotion of International Trade (CCPIT) Chairman Gao Yen to have their respective chambers play a leading role.

To Japan Chamber of Commerce and Industry (JCCI) Chairman Akio Mimura, Chey expressed hope to resume meetings between the leaders of the two countries' chambers.

The KCCI chief noted the meeting began in 2002 and was held every year before it was suspended in 2018 over deteriorated bilateral ties.

Chey sent letters to the heads of business lobby groups representing 130 countries including China and Japan, Sunday.

He urged the chambers of the countries to play a "pivotal role" in supporting their governments to set up economic policies and improve the business environment. Such efforts, according to Chey, are especially important due to the persistence of the economic fallout from the COVID-19 crisis and the trend of low economic growth.

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