Business leaders in materials, supply chain, chips honored on Commerce Day

Prime Minister Kim Min-seok, front row center, and Korea Chamber of Commerce and Industry (KCCI) Chairman Chey Tae-won, front row fourth from left, pose with business leaders awarded with Orders of Industrial Service Merit during the 53rd Commerce Day ceremony at KCCI headquarters in central Seoul, Tuesday. Yonhap

The Korea Chamber of Commerce and Industry (KCCI) celebrated the 53rd Commerce Day on Tuesday, awarding Orders of Industrial Service Merit to 11 business leaders in the fields of materials, supply chains and semiconductors.

KCCI Chairman Chey Tae-won, Prime Minister Kim Min-seok and more than 400 leaders of businesses and commerce chambers across the country attended the ceremony at KCCI headquarters in Seoul, reaffirming their commitment to overcoming risks stemming from the Middle East crisis, rising tariffs and other economic headwinds.

This year, participants focused on Korea’s preparedness for a challenging economic environment, emphasizing the need to follow in the footsteps of earlier business leaders who overcame past oil shocks through a united public-private approach.

“The first Commerce Day in 1974 was much the same as today, when Korea faced difficulties from the first oil shock, including disruptions in energy supply and surging inflation,” Chey said.

“Business leaders at the time did not stop. They pushed ahead with technological innovation and productivity improvements, and their perseverance and strong execution laid the foundation for today’s Korean economy. … Just as earlier business leaders overcame those challenges with policy support, now is the time for us to carry that spirit forward.”

During the ceremony, 264 business leaders and employees who contributed to the localization of materials, parts and equipment, the expansion of global supply chains and artificial intelligence (AI)-driven manufacturing innovation were honored with various orders, medals and citations. This year, a total of 17 orders and medals were awarded, 16 of which went to small and medium-sized enterprises.

Unitech Chairman Lee Sung-ho was awarded the Gold Tower Order of Industrial Service Merit in recognition of his contributions in localizing adhesive materials for ships, electric vehicles and aerospace sectors.

Incheon City Gas Chairman Lee Jong-hoon was honored with the Gold Tower order for expanding industrial and power generation energy supply chains, while Dine Inc. Chairwoman Yoon Hwe-seop also received the Gold Tower order for her contributions to exports of industrial precision tools.

SK hynix President Song Hyun-jong and Korea Full-Tech Corporation co-CEO Kim Jae-san were awarded the Silver Tower Order of Industrial Service Merit. Song was recognized for maintaining global leadership in AI semiconductor technology, while Kim was honored for strengthening export competitiveness by developing key automotive components and building global supply chains.

In addition, two recipients each were awarded the Bronze Tower, Iron Tower and Tin Tower Orders of Industrial Service Merit, while six received Industrial Service Medals and 17 were given presidential citations.