Choi Tae-won’s First Move as Head of KCCI: Dialogue with Young Venture Entrepreneurs

KCCI Releases Video of "Dialogue with Sandbox Startups" Featuring Chairman Park Yong-man and Chairman Choi Tae-won on the 14th
Chairman Choi Tae-won: "The Role of Companies is to Create Both Economic and Social Value"

[Asia Economy Reporter Hwang Yoon-joo] The Korea Chamber of Commerce and Industry (KCCI) released a video titled "Dialogue with Startups" on the 14th via YouTube (KCCI Sandbox Support Center), attended by Park Yong-man, Chairman of KCCI, and Choi Tae-won, Chairman of Seoul Chamber of Commerce and Industry (and the next designated Chairman of KCCI).

On the 4th, Chairman Park and Chairman Choi met with Jo Gang-tae, CEO of MGRV; Kim Dong-min, CEO of JLK (remote medical treatment; fundamentally prohibited); Song Min-pyo, CEO of Coactors (currently applying for a sandbox related to taxis for the hearing impaired); and Kang Hye-rim, CEO of Padiem (applying for a sandbox related to safe return for women and children) at the shared housing house (Mangrove) in Jongno-gu, Seoul, to have a conversation.

This event was Chairman Park’s last and Chairman Choi’s first official event, held according to Park Yong-man’s wish to continue legal and institutional innovation and Choi Tae-won’s intention to consider his role for future generations.

Chairman Park said, "Looking back on my time as KCCI Chairman, I realized that laws and systems impose significant restrictions on people who start and grow businesses," adding, "To solve this, we opened a private sandbox window, and I hope Chairman Choi will continue to support young entrepreneurs well."

In response, Chairman Choi said, "You have given me a very difficult task, and I am thinking hard about how to handle it," to which Park Yong-man replied, "If you need anything, contact me anytime, and I will devote myself to helping you."

Chairman Choi stated, "The sandbox is a system that allows us to examine whether regulations are truly necessary, whether changing them would lead to improvements, and who would be the victims and beneficiaries of such changes." He continued, "If changing regulations benefits society as a whole, no one would oppose it," adding, "It is important to find the grounds and data to change regulations during the demonstration period."

Chairman Choi said, "Park Yong-man has paved the way and even created the sandbox to such an extent that I feel my role is just to add a spoonful," and added, "Through the sandbox, I will work with KCCI to help young people express what they want to do and share their stories."

On that day, a question basket also appeared. KCCI collected voices from startups that could not attend on yellow paper, and Chairman Choi drew questions one by one from the basket, continuing communication. In response to a request to give a TED talk for startups, he said, "I will communicate with startups in any form and reflect it in KCCI activities." When asked to become a focal point for startups like Chairman Park Yong-man, he promised, "I will do my best as far as I can. It would be good if the newly appointed KCCI chairpersons join as well," pledging continuous communication with startups.

Regarding the question, "What is the social role of companies and entrepreneurs?" he said, "Since companies are part of society, in the past, their role was to satisfy market demand, supply well, and generate profits to pay a lot of taxes."

He continued, "No one thinks that concept is bad even now," adding, "However, as social problems become more complex, companies can start from 'solving social problems' and find ways to make money from it."

Chairman Choi said, "Most of the startups here today want to contribute to society," and added, "The role of companies is not just to make money but to create both economic and social value."

Meanwhile, Chairman Choi gifted hourglasses to the attendees. KCCI explained, "The hourglass symbolizes 'endless time' that starts when flipped and starts again when flipped once more," adding, "It signifies that Chairman Park Yong-man, Chairman Choi Tae-won, and KCCI will support young entrepreneurs until the end."