Chey Tae-won: "In Difficult Times... I Will Devote Myself Fully"

Chey Tae-won Becomes First Leader of Top Four Conglomerates to Head KCCI
Seoul Chamber Executive Team Reshuffled
IT Entrepreneurs Including Kim Beomsoo and Kim Taekjin Join Leadership

Chairman Chey Tae-won of SK Group (left) and Chairman Park Yongman of the Korea Chamber of Commerce and Industry are entering the Seoul Chamber of Commerce General Assembly held on the 23rd at the Korea Chamber of Commerce in Jung-gu, Seoul. Chairman Chey will officially begin his schedule as chairman of the Korea Chamber of Commerce starting with the election of the Seoul Chamber chairman on this day. Photo by Moon Honam munonam@

Chey Tae-won, chairman of SK Group, began his official schedule at the Korea Chamber of Commerce and Industry (KCCI) on February 23, starting with his election as chairman of the Seoul Chamber of Commerce and Industry. This marks the first time that the head of one of the four largest conglomerates has become president of the KCCI. There are growing expectations that he will more effectively represent the voices of business leaders, especially as the government and political circles are competitively pushing forward corporate regulatory policies.

Chairman Chey was elected as the 24th chairman at the general assembly of the Seoul Chamber of Commerce and Industry held at the Chamber building on this day. According to tradition, the chairman of the Seoul Chamber is nominated as the president of the KCCI, so Chey is expected to be officially elected as KCCI president at the general assembly scheduled for March 24. The terms for both the Seoul Chamber and KCCI presidents are three years, with the possibility of one reappointment.

Chairman Chey stated, "I had some hesitation and many thoughts about taking on this role during such a difficult time, but I consider it a great responsibility," adding, "I will do my utmost to lead the Seoul Chamber and devote myself fully to my duties." The phrase "gyeonmajilo" (meaning 'the humble effort of a dog or a horse') is a modest way of expressing his commitment to hard work.

He also said, "I do not have the strength to do this alone. Many of you need to participate and share your thoughts," and added, "I believe that when many people work together, we can create an environment that benefits the business landscape, the future of Korea, and the next generation."

Chairman Chey Tae-won of SK Group (left) and Chairman Park Yongman of the Korea Chamber of Commerce and Industry are taking a commemorative photo at the Seoul Chamber of Commerce and Industry general assembly held on the 23rd at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul. Chairman Chey, who was elected as the president of the Seoul Chamber of Commerce and Industry on this day, will officially begin his term as president of the Korea Chamber of Commerce and Industry after the full general assembly on the 24th. SK Group, led by Chairman Chey, ranks third in the business world after Samsung and Hyundai Motor, and this is the first time that the head of a 4th largest conglomerate has become the president of the Korea Chamber of Commerce and Industry. Photo by Moon Honam munonam@

The business community expects Chairman Chey to skillfully serve as a bridge between the government, the ruling party, and businesses. There has been considerable criticism that the voices of the business sector were not reflected during the passage of the so-called 'three major corporate regulatory laws,' including amendments to the Commercial Act. Given that Chairman Chey has actively responded to the changing business environment by emphasizing corporate social responsibility, there is hope that he will also play a key role in representing corporate interests.

About 70 members of the Seoul Chamber attended the meeting on this day. The Seoul Chamber's executive team was also reorganized. Reflecting changes in the industrial landscape, new members from the information technology (IT), startup, and finance sectors joined the leadership. In the past, the executive team was mainly composed of leaders from traditional manufacturing and distribution industries. The newly elected vice chairmen of the Seoul Chamber are Kim Namkoo, chairman of Korea Investment Holdings; Kim Beomsoo, chairman of Kakao's board; Kim Taekjin, CEO of NCSoft; Park Ji-won, vice chairman of Doosan; Lee Hanju, CEO of Bespin Global; Lee Hyunghee, chairman of the SK SV Committee; and Jang Byungkyu, chairman of Krafton. Jung Kiok, chairman of LS C Food, who became the first SME executive to serve as a vice chairman of the Seoul Chamber, was reappointed. This is particularly significant as she is both a female executive and a representative of small and medium-sized enterprises.

Chairman Chey now faces a host of pressing issues. With a series of corporate regulatory laws having already been passed, the introduction of a class action system is also scheduled for next month. The Federation of Korean Industries has been marginalized due to its involvement in the 'state affairs manipulation' scandal, and the Korea Employers Federation was established as a labor-management relations organization, making it difficult for the business community to present a unified stance on various regulations.