Choi Tae-won Rolls Up Sleeves to Resolve 'Anti-Corporate Sentiment'

"Ready to Hear Harsh Criticism"
After 'National Communication' Citizen Interview
"Committed to Fulfilling the Proper Role of Corporations"

On the 29th, at the Sangui Hall in Jung-gu, Seoul, Choi Tae-won, the newly appointed chairman of the Korea Chamber of Commerce and Industry, is delivering a greeting during the 'Non-face-to-face Town Hall Meeting' held in lieu of the inauguration ceremony. March 29, 2021 Photo by Joint Press Corps

[Asia Economy Reporter Choi Dae-yeol] To ease anti-corporate sentiment, Chey Tae-won, Chairman of the Korea Chamber of Commerce and Industry (KCCI), personally rolled up his sleeves. He decided to listen candidly to the various opinions citizens hold about corporations and to take part in correcting any issues by reflecting on the feedback. Chairman Chey made it clear that he is ready to "hear harsh criticism" and is actively committed to resolving the widespread anti-corporate sentiment throughout society.

In the promotional video for the "National Communication Project" posted on Insight, a YouTube channel operated by KCCI on the 12th, Chairman Chey listened to the thoughts of ordinary citizens such as office workers and self-employed individuals about corporations and said, "There are many comments that deeply resonate and sting."

In the video, various citizens shared their usual thoughts about corporations, including "It seems like there are separate people who suffer and separate people who make money" (housewife), "How many trustworthy companies are there?" (job seeker), "Corporations pursue profits, so they seem insincere" (office worker), and "I wish they would stop just talking and actually take action" (office worker). After carefully watching the citizen interviews, Chairman Chey said, "We will strive to fulfill the proper role of corporations so that they can continue to contribute and give back to society."

This approach is a predictable step considering the values Chairman Chey has emphasized in corporate management. Since becoming the head of KCCI, the representative economic organization encompassing all domestic companies, in March, he has internally advocated for a new entrepreneurial spirit that matches the changing times for corporate members. He stressed that corporations must first change themselves to alter the external perception.

For example, corporations should actively utilize the technology and capital they have accumulated to solve serious environmental problems, and holding national public contests to address social issues arising from COVID-19, with experienced entrepreneurs mentoring the projects, aligns with this philosophy. Chairman Chey’s father, the late Chairman Chey Jong-hyun, who built today’s SK Group, also contemplated ways for business to serve the nation and enable the entire society to develop together during his lifetime.

Although there is ample room for corporations to play a positive role within society and eliminate antagonism, this initiative aims to reflect on and correct the failures to do so. In this process, corporations will not unilaterally convey what they want to say but will first listen and communicate to understand the background of the resentment.