Choi Tae-won: "If Society Is Not Sustainable, Companies Cannot Be Sustainable Either" (Comprehensive)

KCCI ERT Member's Day Event
Encouraging Companies to Participate in Solving Social Issues
"Expanding Social Issue Resolution Projects... Collaborating with Companies"

Choi Tae-won, Chairman of SK Group and the Korea Chamber of Commerce and Industry (KCCI), encouraged companies to actively participate in solving social issues, stating, "If society is not sustainable, companies cannot be sustainable either."

Chairman Choi made these remarks during the opening speech at the 'Entrepreneurship Renewal Team (ERT) Member's Day' held on the morning of the 25th at the KCCI International Conference Hall. He said, "Today is an occasion to reflect on the new entrepreneurship spirit and to share the achievements our companies have made. I hope it will be an opportunity to gain good hints through companies that have shown special achievements." He added, "As we all feel, society faces various problems such as climate change, low birthrate, aging population, polarization, and regional extinction. These issues have become more complex and serious. Whether companies can create a sustainable society amid these challenges is a kind of challenge."

Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry, and Park Seung-hee, President of Samsung Electronics, are posing for a commemorative photo after folding "Mind Boxes" for children at risk of hunger before the main event of the Entrepreneurs' Roundtable (ERT) Members Day at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul on the 25th. Photo by Heo Young-han younghan@

He continued, "Companies cannot help but consider how to respond to social issues," emphasizing, "I hope companies will join forces to solve each problem. When companies work together to solve a problem, the effect is multiplied. Since companies have different capabilities, complementing and cooperating with each other will increase the impact."

Chairman Choi also stated, "Going forward, we will ensure that many companies, including ERT member companies, can participate. We will also expand projects that solve social problems," adding, "We will strive to be recognized as a new movement by many. We will make sure that companies' activities to solve social problems are acknowledged and appreciated. Much participation is needed. This is a kind of message and marketing asking companies to help become sustainable to their stakeholders."

At the opening ceremony of the Korea Chamber of Commerce and Industry (KCCI) ERT (Entrepreneurship Round Table) Members Day event held at the KCCI on the 25th, Choi Tae-won, Chairman of the KCCI, is delivering a speech. Photo by Huh Younghan younghan@

Meanwhile, the event was held on the largest scale since the launch of ERT. About 400 businesspeople attended, including members of the Leaders Club, a gathering of CEOs from major ERT member companies. Among the Leaders Club members were Park Seung-hee, President of Samsung Electronics; Lee Hyung-hee, Chairman of SK Communication; Kim Dong-wook, Vice President of Hyundai Motor Company; and Park Joon-sung, Vice President of LG. The event was conducted under three themes: 'Experience Zone,' where participants engage in practical activities offline; 'Meeting Zone,' where member companies expand their networks; and 'Sharing Zone,' where the status of value creation by participating companies was presented and best practices shared.

Kim Dong-soo, Director of the ESG Management Research Institute at Kim & Chang, who gave a keynote presentation, introduced research results on the economic and social value creation status of major ERT participating companies. He explained that about 60% of the economic value generated through corporate activities was distributed to various stakeholders in society, including partner companies, employees, shareholders, government, and local communities.

The greenhouse gas emission reduction performance (5.5%) was higher than the national target (3.3% reduction) and the international scientific target reduction rate (4.2% reduction). The amount of fines imposed due to violations of laws and regulations decreased compared to the past three years.

On the other hand, the wage level for women in companies was about 68% of that for men, falling short of the OECD average of 87.9%. However, this ratio has improved over the past three years, rising from 66.5% in 2020 to 67.9% in 2021.

In the subsequent discussion, Kwak Soo-geun, Professor Emeritus at Seoul National University, said, "If the diverse activities of the economic sector expand from large corporations to mid-sized and small businesses in the future, it could bring about meaningful social change."

Professor Bae Jong-tae of the Korea Advanced Institute of Science and Technology (KAIST) stated, "Companies empathizing with and practicing the new entrepreneurship spirit is directly linked to strengthening corporate competitiveness."

Following this, there was a session sharing excellent practical cases such as Samsung's win-win smart factory and Google's workplace culture.

Woo Tae-hee, Executive Vice Chairman of the Korea Chamber of Commerce and Industry, said, "I hope this event served as an opportunity for ERT member companies to come together and create synergy," adding, "Going forward, we plan to broaden connections with various stakeholders around companies, such as partner companies and the public."