Korean conglomerate executives boost ties with each other at CES
HD Hyundai President Chung Ki-sun, left, and Shinsegae Group Vice Chairman Chung Yong-jin pose at the shipbuilding group's exhibition booth at the CES 2023 in the Las Vegas Convention Center, Thursday (local time). Joint Press Corps
By Park Jae-hyuk
LAS VEGAS ― Top executives and heirs of family-controlled Korean conglomerates took advantage of the 2023 Consumer Electronics Show (CES) to expand their personal networks and seek the new growth engines for their companies.
Making their way through the crowds in the 230,000 square meters of exhibition space at the Las Vegas Convention Center, they did not just promote technologies and products of their own companies at the four-day tech show, but also paid visits to the various exhibition booths of other Korean firms.
Shinsegae Group Vice Chairman Chung Yong-jin was one of the chaebol leaders who drew attention from Korean media on the opening day of the world's most influential tech event, which kicked off Thursday (local time).
Although the retail giant canceled its plans to have a Shinsegae Food pavilion at the CES to showcase its technologies regarding meat alternatives, Chung went to Las Vegas and toured the exhibitions by multiple Korean conglomerates on the opening day.
After meeting with top executives of Samsung and LG Electronics at each of their booths in the Central Hall, the vice chairman moved to HD Hyundai's display in the West Hall located nearly 15 minutes away from the Central Hall on foot.
Shinsegae Group Vice Chairman Chung Yong-jin, right, and LG Electronics CEO Cho Joo-wan, left, exchange business cards at the latter's exhibition booth at the CES 2023 in the Las Vegas Convention Center, Thursday (local time). Yonhap
At the HD Hyundai booth, he met with President Chung Ki-sun, the shipbuilding group's heir apparent, who was also using the CES as an opportunity to meet with the CEOs of various global enterprises, such as TerraPower and AccuWeather.
The HD Hyundai president, who is a grandson of the late Hyundai Group founder Chung Ju-yung, introduced his company's “Ocean Transformation” vision and futuristic technologies to the Shinsegae Group vice chairman, a grandson of the deceased Samsung Group founder Lee Byung-chul.
“Their meeting was held in a very friendly mood, because they have been close friends for a long time,” an HD Hyundai executive said.
The HD Hyundai president visited the exhibition booths of Hyundai Mobis, Samsung, LG Electronics and SK Group the following day, expressing his keen interest in each of their technologies.
SK On Executive Vice Chairman Chey Jae-won, right, shakes hands with Samsung Electronics Vice Chairman Han Jong-hee at the latter's exhibition booth at CES 2023 in the Las Vegas Convention Center, Thursday (local time). Yonhap
SK On Executive Vice Chairman Chey Jae-won looked around the exhibition booths of Samsung and LG Electronics, also on Thursday.
On the first day of this year's CES, he represented Korea's second-largest business group on behalf of his older brother, SK Group Chairman Chey Tae-won.
The SK Group chairman did not visit the event's venue on the opening day, as one of his secretaries accompanying him to Las Vegas tested positive for COVID-19, but did make a surprise visit to his company's exhibition booth the following day.
SK Biopharmaceuticals senior manager Chey Yoon-chung, the oldest daughter of the SK Group chairman, and Lotte Chemical Vice President Shin Yoo-yeol, the oldest son of Lotte Group Chairman Shin Dong-bin, were also seen at each of their company's exhibition booths.
Shin looked around Samsung Electronics' exhibition booth and met with SK Geo Centric CEO Na Kyung-soo at SK Group's booth, Friday.
Korea International Trade Association Chairman Koo Ja-yeol visited Lotte Data Communication's booth on the first day of the event. His cousin, LS Group Chairman Koo Ja-eun, looked around the exhibition booths of Samsung, LG Electronics, SK Group and Google, Friday, although LS Group did not have a pavilion this year.
Shinhan Financial Group Chairman Cho Yong-byoung, third from right, listens to a Lotte Data Communication employee at the IT firm's exhibition booth at CES 2023 in the Las Vegas Convention Center, Thursday (local time). Yonhap
From the financial industry, Shinhan Financial Group Chairman Cho Yong-byoung visited the exhibition booths of SK Biopharmaceuticals and Lotte Data Communication, Thursday, after encouraging Shinhan Bank employees at the bank's exhibition booth. Shinhan Bank is the first Korean bank to have an exhibition booth at the CES.
Hana Financial Group Chairman Ham Young-joo visited the exhibition booth of Asleep, a Korean sleeptech startup that attracted investments from Hana.