‘Oldest brother’ Choi Tae-won-ho launched the Korean Award… Anti-corporate regulation task bulk

Tae-won Choi, 61, chairman of SK Group, will be the first of the four major groups to become chairman of the Korea Chamber of Commerce (Korea Chamber of Commerce). Chairman Choi, who was in charge of SK Group in his late 30s and raised it to the third place in the business world, is now inaugurated as the head of the largest economic organization in Korea as the eldest brother of the business world who has already entered his 60s. In particular, as the business community is facing a confrontation with the government over regulatory legislation in recent years, it is noteworthy what voice Choi will make as a practical representative of the business world.

The Seoul Chamber of Commerce’s presidency held a meeting at the Chamber of Commerce in Jung-gu, Seoul on the 1st, and elected Chairman Choi as the successor to the current chairman of Daehan Sang, Park Yong-man. They will finally elect the president at an extraordinary general meeting of members on the 23rd. By convention, the president of the Seoul Award also serves as the president of the Korea Award. Chairman Park met with reporters right after the meeting and said, “I unanimously decided to become President Choi,” and said, “I think he is a very suitable candidate at the moment because he usually thinks a lot about win-win, environmental, and social values.” In writing, Chairman Choi said, “Thank you for the appointment,” and “I will consider what I can do for the consultation and the national economy.”

Chairman Choi became the chairman of SK Group in September 1998 at the age of thirty-eight. It has already been 24 years since the late Cho Jong-hyun of SK Group’s previous president passed away. There were ups and downs too. In 2003, it competed with Sovereign, a foreign asset management company, and succeeded in defending SK Group’s management rights after two years. He was imprisoned on charges of fraudulent accounting and embezzlement, and recently, he was rumored to be divorced. However, in the management aspect of SK Group, Chairman Choi showed results in the transition to the holding company system, improvement of corporate governance, and diversification of business structure. In particular, in 2011, despite internal opposition, it acquired Hynix, which provided an opportunity for SK to rise to third place in the business world.

Chairman Choi is expected to strengthen communication with the government by serving as the chairman of the Daehan Award and becoming a’center point’ for companies. He is the chairman of one of the four major groups in Korea, and is the oldest of the four major groups. In fact, last year, Lee Jae-yong (53), vice chairman of Samsung Electronics, Eui-sun Eui-sun, chairman of Hyundai Motor Group (51), and CEO Gwang-mo Gu (43) of LG Group, took the role of the eldest of the business leaders. In many domestic companies, generations are being changed to 3rd and 4th generation young entrepreneurs instead of the first generation founders who led the Korean economy like Lee Byung-cheol and Jung Ju-young. Accordingly, the business community expects that Choi, the eldest of the four major group heads, and who is in her 60s, will serve as a bridge between the business elders and businessmen in their 30s to 40s and hold the center of the business world.

An official in the business world said, “Chairman Choi has a strong will to change the negative image of the business community and help the overall economy through the activities of the Korean Chamber of Commerce.” It is interpreted that he expressed his willingness to take the lead in win-win growth and protection of small business owners, beyond SK, beyond the individual companies of SK. Chairman Choi has recently emphasized the social value of a company by promoting fundamental innovation (deep change) centering on social value creation, win-win growth, and market trust. Chairman Choi said in a lecture held in Andong City, Gyeongbuk last October, “It is true that our companies have had a great negative perception in the process of growing their size and pursuing profits,” and “I will actively practice the new responsibilities and roles given to companies.” .

Some analysts say that it will not be easy for Chairman Choi to represent various interests as a representative of a corporate organization. Until now, the National Federation of Entrepreneurs has been the largest economic organization in Korea, but with the withdrawal of all four groups after the incident of Choi Soon-sil Gukjeong Nongdan, the Korean Chamber of Commerce is now establishing itself as a practical communication channel between the business community and the government. However, since 98% of the 180,000 member companies are medium-sized and small and medium-sized companies, the Korean Chamber of Commerce cannot only consider the position of large companies in relation to various systems and legislation. In particular, the Korean Chamber of Commerce should represent the voice of the business community against the government and the National Assembly, which are promoting legislation such as the Severe Disaster Act and the 3 Fair Economy Act. A business official said, “The chairman of the Korean Chamber of Commerce must agree with the opinions of various member companies with differing interests and speak to the government,” and “Unlike when President Choi runs individual companies, leadership as a business representative has risen to the test. It could be.”

Chairman Choi is an analysis that, right now, the government will gradually begin to speak out the voice of the business community, keeping pace with eco-friendly policies such as the ‘2050 Carbon Neutral Country’ Declaration. Kim Yeon-hak, a visiting professor at Sogang University’s Graduate School of Technology Management, said, “Chairman Choi is also leading ESG management, a topic in the political and financial world, so he will be able to keep in harmony with the government in Korea. It is expected that it will also contribute to the Korean economy.”

Meanwhile, Chairman Choi attended the M16 completion ceremony held at SK Hynix’s headquarters in Icheon, Gyeonggi-do, and started the microprocessing technology of memory semiconductors. He also said, “The annual salary received from SK Hynix I will bring it out.” He expressed his intention to share the results.

Reporter Kim Kyung-mi [email protected]