Economic Organization’New Wind’…SK Chairman Choi Tae-won-Korea Chamber of Commerce, LS Chairman Koo Ja-yeol-Trade Association

At the regular general meeting in Seoul on the 23rd, Tae-won Choi (left) and former chairman of Seoul Chancellor Park Yong-man take commemorative photos.  Photo = Provided by Seoul Award
At the regular general meeting in Seoul on the 23rd, Tae-won Choi (left) and former chairman of Seoul Chancellor Park Yong-man take commemorative photos. Photo = Provided by Seoul Award

[미디어SR 정혜원 기자] SK Group Chairman Choi Tae-won and LS Group Chairman Koo Ja-yeol will take the position of heads of economic organizations this week. Chairman Tae-won Choi is the first to take office as the chairman of the Korea Award for the 4th largest group in Korea.

◇ SK Group Chairman Choi Tae-won, the first head of the Korea Prize in the 4 major groups

The Seoul Chamber of Commerce and Industry announced on the morning of the 23rd that it held a general meeting of parliamentarians in Seoul at the Chamber of Commerce and Industry and elected SK Group Chairman Choi Tae-won as the 24th president of the Seoul Chamber of Commerce and Industry. Chairman Choi is expected to be officially elected as president of the Korean Chamber of Commerce on behalf of the Seoul Chamber of Commerce at the regular general meeting of the Korean Chamber of Commerce on the 24th of next month.

By convention, the president of the Seoul Award also serves as the president of the Korea Award. The terms of office of the Seoul and Korea Awards are three years and can be reappointed once.

The Korean Chamber of Commerce has emerged as the nation’s largest economic organization after the current government. While the National Federation of Entrepreneurs (Jeon Gyeongryeon) has not recovered its status due to the Gukjeong Nongdan incident, it is in the shape of the Korean Sangha to establish its position as a representative economic organization. The business community places extraordinary expectations on the influence of Chairman Choi, along with the elevated status of the Korean Award.

In addition, Chairman Tae-won Choi is expected to focus on expanding the extension of ESG (environmental, social, governance) management, which has been emphasized through the Korea Consultation, to the entire business world and leading new changes.

Earlier, young entrepreneurs from the IT, game, start-up, and finance industries will also join the Seoul Award’s chairmanship, and it is expected that they will actively express their opinions on the renewal of the atmosphere and the innovation industry.

The newly joined Vice Chairman Nam-koo Kim, Chairman of Korea Investment Finance Group, Bum-soo Kim, Chairman of Kakao Co., Ltd. Taek-Jin Kim, CEO of NCsoft, Jiwon Park, Vice Chairman of Doosan Corporation, Han-joo Lee, CEO of Vespin Global, Hyung-hee Lee, President of SK Group (SK Broadband), and Byeong-gyu Jang, Krafton Co., Ltd. Chairman, etc.

An official at the Korea Consultation said to Media SR, “We elected the new vice chairman after discussion at the vice chairman of Seoul,” and “As innovative companies and businessmen in the IT field join, they are expected to speak out about policies related to the industry However, the plan was not specifically formulated.”

Seven of these new vice-chairmen also attended the meeting and attended the meeting, and Yong-man Park, Chairman of the Korean and Seoul Prize, Amorepacific Chairman Seo Gyeong-bae, Chairman Seok-hyung Woo, Chairman Shindorico, Dong-woo Lee, CEO of Lotte Holdings, Soon-Hyung Lee, Chairman of SeAH Steel, Woo-Hyun Lee, Vice Chairman of OCI, Ki-Ok Jung, Chairman of LS Seafood, and Mong-yoon Chung Chairman, Hyun Jung-eun, Hyundai Group Chairman, and Woo Tae-hee, a full-time vice chairman of the Korea and Seoul Prizes, were present with more than 70 members of the Seoul Prize.

At the regular general meeting in Seoul on the 23rd, Tae-won Choi, the new chairman of the Seoul Award, is giving his inauguration address.  Photo = Provided by Seoul Award
At the regular general meeting in Seoul on the 23rd, Tae-won Choi, the new chairman of the Seoul Award, is giving his inauguration address. Photo = Provided by Seoul Award

In a greeting immediately after the election, Chairman Tae-won Choi said, “I have a lot of thoughts about becoming the chairman of the Seoul Chancellor in a very difficult time.” I think I can.”

When Chairman Choi is inaugurated as Chairman of the Daehan Sangsang, SK Group will serve as the head of the two major business organizations for two generations. The late SK Group Chairman Choi Jong-hyun, Choi’s eldest father, served as Chairman of the FKI from 1993 to 1998.

Ja-yeol Koo Chairman of LS Group / Photo courtesy of LS Group
Ja-yeol Koo, chairman of LS Group. Photo = provided by LS Group

◇ LS Group Chairman Koo Ja-yeol is the head of the Korea Trade Association after E1 Chairman Koo Pyeong-hoe.

Chairman Koo Ja-yeol is scheduled to be elected as the 31st President of the Trade Association after a resolution at the regular general meeting of the Trade Association on the 24th.

Chairman Koo is known to have been elected as the next chairman according to the opinion of the business community that export companies are suffering from difficulties due to Corona 19.

Previously, the chairman of the Korea International Trade Association was a government official for 15 years after former chairman Kim Jae-cheol (1999-2006).

Chairman Koo has been the chairman of LS Group since 2013, and in line with the tradition of co-management with brothers and their families for nine years, he plans to hand over the position to Chairman Ja-eun Koo later this year. However, it is also said that the transfer of the position of the group chairman could be faster with the appointment of the martial arts chairman this time.

In addition, when Koo is elected as the chairman of the Korea International Trade Association, LS Group will take over as the president of the trade association after the rich. Koo’s father, the late E1 Honorary Chairman Goo Pyeong-hoi, also served as the 22nd and 23rd President of the Trade Association.

◇ The theory of integration between the FKI and the Gyeonggi Chong is coming back

On the other hand, it is also eye-catching that the theory of integration between the FKI and the Korean Federation of Business Owners (Gyeonggong) is being discussed again as the FKI president changes.

Recently, laws aimed at strengthening corporate regulations, such as the’Three Fair Economy Act’ (the Fair Trade Act, the Commercial Act, and the Financial Group Supervision Act) and the Severe Accident Corporate Punishment Act, have been legislated. It is an idea to try.

In 2019, as the FKI’s status weakened and the election of the chairman was difficult, there was a theory of integration between the FKI and the FKI.

However, in the business world, it is expected that it will be difficult to achieve actual physical integration as there are many mountains to be overcome, such as incorporating the underlying laws as well as the consent of member companies.

However, it is also pointed out that there is a need to focus more on the unique roles each economic organization plays. The FKI should represent the voices of large corporations, centering on the Korea Economic Research Institute, which has served as a think tank for large corporations, and the Gyeonggi Federation should focus on coordinating existing labor-management relations.

Meanwhile, the FKI will hold a general meeting of members on the 24th and the board of directors on the 24th to decide on the appointment of the next president.

Although the prevailing observation that Chairman Huh Chang-soo, who has been leading the FKI since 2011, will be reappointed, there is no possibility that Hanwha Group Chairman Kim Seung-yeon, who has been active in the FKI while serving as the vice chairman of the FKI, will be the next chairman with the return of the group.

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