SK Group Chairman Chey Tae-won to lead KCCI

By Kim Hyun-bin

SK Group Chairman Chey Tae-won is set to be appointed as the next chairman of the Korea Chamber of Commerce and Industry (KCCI), succeeding incumbent Chairman Park Yong-maan, industry insiders said.

This is the first time for the head of one of the big four conglomerates ― Samsung, Hyundai Motor, SK and LG ― to lead the country's main business lobby group.

The KCCI is scheduled to convene a meeting of its member chairs, Monday, where Chey is set to become the sole candidate.

“The next KCCI chief will be formalized at the member chairs meeting at 9 a.m. Monday,” a KCCI official said. “It looks to be Chey who will be named the next chairman.”

The KCCI chairman position is traditionally selected by nomination and serves a three-year term with a chance for reelection.

The incumbent Chairman Park is scheduled to step down in March after serving in the post for over seven years.

For the last few months, there have been numerous speculations surrounding who will be the next chairman among top business leaders. The list included Chey, LS Group Chairman Koo Ja-yeol and Celltrion Chairman Seo Jung-jin.

Chey has proven his leadership capabilities after taking the helm of SK Group. The group's assets in 2016 accounted for 32 trillion won, increasing more than six-fold to 200 trillion won today. Its ranking among the top conglomerates also jumped from fifth to third, chasing close behind No. 2 Hyundai Motor Group since 2019.

Industry insiders say Chey will be tasked with bridging conglomerates and SMEs.