March 29 Seoul Chamber of Commerce Board Meeting... Seoul Chamber President Reappointment
Reappointment Reserved After Korea Chamber General Meeting on March 21
Choi Tae-won, Chairman of SK Group, has been virtually confirmed for a third consecutive term as Chairman of the Korea Chamber of Commerce and Industry (KCCI).
The Seoul Chamber of Commerce and Industry held its regular general meeting on the afternoon of the 29th at the KCCI Hall in Jung-gu, Seoul, and unanimously elected the current chairman, Choi Tae-won, as the 25th Chairman of the Seoul Chamber. His term will run from this month until February 2027.
Chairman Choi is virtually appointed as the 25th Chairman of the KCCI for a three-year term at the KCCI’s extraordinary general meeting scheduled for the 21st of next month. The KCCI chairman is decided through recommendations and consent from the chairmen of regional chambers and special members nationwide. Traditionally, the chairman of the Seoul Chamber concurrently serves as the chairman of the KCCI, and it is highly likely that this precedent will continue this time as well.
The KCCI held the general meeting to elect the 25th chairman on the 21st of next month at the International Conference Hall of the KCCI Hall. About 80 special members of the KCCI, composed of chairmen of regional chambers and representatives of affiliated organizations nationwide, attended.
The meeting was presided over by Lee Soon-hyung, Chairman of SeAH Steel and the longest-serving (four terms) Vice Chairman of the Seoul Chamber, as temporary chairman. After Lee Dong-woo, Vice Chairman of Lotte Holdings, nominated Choi Tae-won as the candidate for the 25th chairman, all attending members unanimously agreed, confirming his reappointment.
Chairman Choi said in his acceptance speech, "I believe it is my duty to contribute even a little to solving the economic and social challenges over the next three years. Even if I cannot present clear answers to long-standing issues, I think it will be meaningful if I can create a direction and clues for solutions that many people can empathize with."
Since early 2021, Chairman Choi Tae-won has been working as the Chairman of the Seoul Chamber of Commerce and Industry to strengthen communication between the business community and society. He has focused on key projects such as the KCCI communication platform and the Entrepreneurial Spirit Council (ERT).
On this day, Park Seung-hee, President of Samsung Electronics; Lee Hyung-hee, Chairman of SK Communications Committee; Ha Beom-jong, President of LG; Lee Dong-woo, Vice Chairman of Lotte Holdings; and Shin Hyun-woo, President of Hanwha, were re-elected as the 25th vice chairmen. Park In-joo, Chairman of Jeniel; Lee Jong-tae, Chairman of Fursys; and Hong Jong-hoon, Vice President of JS Corporation, were reappointed as auditors.
About 70 members of the Seoul Chamber attended the meeting, including Kim Won, Vice Chairman of Samyang Corporation; Park Seung-hee, President; Shin Hyun-woo, President; Lee Dong-woo, Vice Chairman; Lee Soon-hyung, Chairman; Lee Hyung-hee, Chairman; Jeong Ki-ok, Chairman of LSC Food; Cho Yong-il, Vice Chairman of Hyundai Marine & Fire Insurance; Cho Hyun-sang, Vice Chairman of Hyosung; Ha Beom-jong, President; Han Chae-yang, CEO of Emart; and Hyun Jung-eun, Chairwoman of Hyundai Group.
Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry and SK Group (left), and Han Ki-jung, Chairman of the Fair Trade Commission (right), attended the regular general meeting of the Seoul Chamber of Commerce held on the afternoon of the 29th at the Korea Chamber of Commerce and Industry building in Jung-gu, Seoul. [Photo by Moon Chae-seok]
Just before the non-public agenda including last year’s settlement, Han Ki-jung, Chairman of the Fair Trade Commission, gave a special lecture on the topic of "Fair Trade Policy Direction." Chairman Han presented the five core tasks of the Fair Trade Commission this year: ▲ speedy and accurate corporate merger reviews ▲ establishment of a stable transaction base for small and medium-sized enterprises and small business owners ▲ creation of an environment to protect consumer rights ▲ rational operation of large business group tasks ▲ expansion of infrastructure for fair trade policy promotion.
Chairman Jeong Ki-ok said, "According to the World Competitiveness Index published by the International Institute for Management Development (IMD) affiliated with the World Economic Forum (WEF), Korea ranks 61st out of 64 countries in terms of corporate-related laws and regulatory competitiveness, placing it near the bottom," and earnestly requested Chairman Han to actively improve the criminal penalty provisions under the Fair Trade Act by focusing on administrative sanctions such as fines instead of excessive economic penalties in line with global standards.
Chairman Han responded, "Since the Yoon Seok-yeol administration took office, efforts have been made to improve excessive criminal penalty regulations related to the economy, and many amendment bills have already been proposed and are pending in the National Assembly as government legislation. The Fair Trade Commission will also work hard to ensure these regulations pass smoothly."
The Chamber of Commerce and Industry is a statutory private organization under the Chamber of Commerce and Industry Act. It has about 200,000 member companies. This year marks the 140th anniversary of the establishment of the Hansung Chamber of Commerce in 1884. Chairman Choi Tae-won will be serving a consecutive term as Chairman of the Seoul Chamber on the 140th anniversary of the KCCI.
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