Frequent Boao Forum Attendee Choi Tae-won Advocates "Relationships" This Time

Attending China Boao Forum from 28th to 31st
Participated as a panelist in ESG session on the second day

"In the future, corporate competitiveness will be determined by the breadth and depth of 'relationships' and how much stakeholders trust us."

Choi Tae-won, Chairman of SK Group, said this in a recent interview with the 'Boao Forum Journal' ahead of his attendance at the '2023 Boao Forum' held from the 28th to the 31st in Boao, Hainan Province, China. When asked what companies value most in an era of uncertainty, he said, "'Relationships' are the most important."

Chairman Choi stated, "We are facing various challenges such as the Russia-Ukraine war, climate change, the pandemic, and the information gap," adding, "These challenges, which clash across eras, classes, and factions, are unprecedented." He further emphasized, "People from diverse backgrounds must work together, gather ideas, and propose effective solutions through relationships."

He also mentioned the seriousness of environmental issues. Chairman Choi said, "One of the serious problems faced by countries around the world is the environment, which concerns the relationship between the Earth and humanity," adding, "The Earth does not wait for humanity. Now is the time for companies to engage in constructive dialogue with the Earth." He noted that SK was the first Korean company to join 'RE100' and set a goal to reduce greenhouse gas emissions by 200 million tons by 2030.

Choi Tae-won, Chairman of SK Group, attended the Boao Forum breakfast forum held in China on April 9, 2018, and gave a presentation on the importance of creating social value as a corporate growth strategy.
[Photo by SK]

Chairman Choi will attend this year's Boao Forum as a board member under the theme "Facing Challenges with Unity and Cooperation in an Uncertain World, Promoting Development through Openness and Inclusion." It is his first time flying to China to attend the Boao Forum in person in four years. The 2020 forum was canceled due to COVID-19, and the forum was held mainly online for the following two years. On the second day of the forum, the morning of the 29th, he will participate as a panelist alongside Na Seok-kwon, Director of the SK Social Value Research Institute, in the session on "Measuring Corporate ESG (Environmental, Social, and Governance) Performance."

Chairman Choi has attended almost every year since 2006. He has been actively involved as a keynote speaker and panelist at the opening ceremonies multiple times. The Boao Forum is often called the "Asian Davos Forum." It is hosted by the Boao Forum Secretariat, a non-governmental organization. However, the Chinese government, as a sponsor, uses the event as a platform to shape public opinion led by China. Political leaders representing the central government and provinces of China, as well as global CEOs and world leaders, participate. The forum has been held annually since January 2002 and is celebrating its 22nd anniversary this year.

Chairman Chey Tae-won of SK Group and Chairman of the Choi Jong-hyun Academic Foundation attending the '2019 Shanghai Forum'
[Photo by Choi Jong-hyun Academic Foundation]

SK Group has supported the Boao Forum since its early days. SK Group utilizes various forums held in China to build networks in local academia, politics, government, and business circles. Of the 14 international forums held through the Choi Jong-hyun Academic Institute and the Korea Foundation for Advanced Studies, 10 are held locally in China. The Beijing Forum, Shanghai Forum, Nanjing Forum, and Tianjin Forum are forums personally overseen by Chairman Choi.

Before the COVID-19 outbreak, he attended the Beijing Forum for three consecutive years and marked his 14th attendance last year at the 16th Shanghai Forum. He also attended the Nanjing Forum and Tianjin Forum, delivering keynote speeches. When visiting China for these forums, he met with high-ranking Chinese political and government officials, including Premier Li Keqiang, as well as senior executives of local Chinese companies to oversee SK's business in China.