Economic Organizations Cancel Major Forums One After Another

Korea Chamber of Commerce and Industry

[Asia Economy Reporters Dongwoo Lee, Yoonjoo Hwang] Due to the prolonged COVID-19 pandemic, major domestic economic organizations are tentatively canceling or postponing their schedules for the second half of the year. Considering that the largest events of the year, such as economic forums, are mainly concentrated in the second half, it is inevitable that plans prepared over the course of a year will face disruptions.

According to the business community on the 5th, the Korea Chamber of Commerce and Industry (KCCI) has decided not to hold the annual 'KCCI Jeju Forum,' which is usually held in July, this year. This is the first time since the KCCI started the event under the Jeju Forum name in 2008 that a cancellation decision has been made. The KCCI is also discussing postponing the 'National Chamber of Commerce Chairpersons Meeting,' held every September, by at least a month, as the decision on whether to hold it has not yet been finalized.

The Korea Federation of Small and Medium Business (Kbiz) has finally decided to hold the 14th 'Small and Medium Business Leaders Forum' from September 20 to 23 in Jeju, extending the event by three months. Initially, Kbiz planned to hold the event from this month’s 17th to 20th with a somewhat reduced scale due to the COVID-19 situation, but after recent internal meetings, they agreed to postpone the schedule. The forum in September will diversify its program with policy discussions on the theme 'Crisis and Opportunity After the COVID-19 Pandemic,' social contribution programs to overcome COVID-19, and special lectures.

The Korea Employers Federation’s 'CEO Workshop,' which was tentatively postponed in February, remains uncertain. A representative from the Federation said, "Due to the prolonged COVID-19 situation, it is still unclear whether the event will be held in the second half of the year," adding, "It is practically difficult to reschedule the speakers’ invitations under the current circumstances."

Meanwhile, the 'Steel Day,' the biggest annual event in the steel industry, has also been canceled due to concerns over the resurgence of COVID-19. This is the first cancellation in 20 years. Instead of holding the event, the government plans to conduct award ceremonies individually by contacting only the award-winning companies. Steel Day commemorates June 9, 1973, when South Korea (POSCO) first produced molten iron in a modern blast furnace.