Do not go gentle into that good night, old age should burn and rave at close of day; Rage, rage against the dying of the light, though wise men at their end know dark is right, because their words had forked no lightning they, do not go gentle into that good night.
Public approval of Korea’s corporate giants hits record high
Korea Chamber of Commerce and Industry Chairman Chey Tae-won, fourth from left, listens to a presenter during the business lobby group's "Entrepreneurship Round Table Members Day" event at its headquarters in Seoul, May 20. Yonhap
By Jhoo Dong-chan
Public favorability toward domestic businesses has climbed to its highest level since tracking began in 2003, according to an annual survey released Wednesday by the Korea Chamber of Commerce and Industry (KCCI).
The business lobby’s Corporate Favorability Index — a comprehensive barometer tracking public sentiment across seven distinct categories — rose 3.9 points from a year earlier to land at 60.1 out of 100. It marks the first time the index has crossed the symbolically important 60-point threshold.
The upswing was remarkably broad-based, with all seven sub-indexes posting year-on-year gains for the first time in the survey's history. Global prestige led the charge: International competitiveness registered the sharpest spike, jumping 6.8 points, followed closely by environmental management and industrial productivity. Yet, old anxieties linger. Ethical management, despite a modest 3.1-point uptick, remained the sole category trapped below the favorability waterline, scoring 47.1.
Lee Won-jae, a professor at KAIST's Graduate School of Culture Technology, noted that this long-term upward trajectory reflects a structural shift in corporate perceptions.
“Even allowing for periods when the survey wasn't conducted, the steady rise in corporate favorability over the past 24 years is largely due to the significant role businesses have played in elevating the nation's global economic standing, even amidst low-growth crises,” Lee said.
He added that the concurrent rise in social-value indicators, such as eco-friendly management and workplace culture improvements, "demonstrates that corporate efforts to create social value are being viewed positively by the public.”
The survey of 1,000 adults nationwide underscores this shifting relationship.
While nearly half of respondents cited broader macroeconomic contributions as their primary reason for viewing companies favorably, consumer behavior is growing increasingly value-driven. Some 86.3 percent of those surveyed admitted that corporate reputation directly influences their purchasing decisions, with nearly a quarter stating they prioritize a company’s image over traditional metrics like price and quality.
Concurrently, expectations are soaring.
An overwhelming 85.6 percent argued that businesses must actively address societal problems — a sharp escalation from 74 percent last year and 58.6 percent in 2024.
"The results show that the social role of business has become a demand of the times, not a matter of choice," a KCCI official noted. As consumers increasingly vote with their wallets, Seoul's corporate boardrooms are learning that profit and public purpose are no longer mutually exclusive.
This article was published with the assistance of generative AI and edited by The Korea Times.