Jinju K-Entrepreneurship International Forum
Held at Gyeongsang National University 100th Anniversary Hall
"Entrepreneurs Must Fully Embrace Social Responsibility"
The 'Korean version of the Davos Forum' was held in Jinju, the capital of Korean entrepreneurship, which produced entrepreneurs such as Koo In-hwoi, the founder of LG Group, and Heo Man-jeong, the founding chairman of GS Group. Attendees from the four major companies?Samsung, LG, GS, and Hyosung?founded by entrepreneurs from Jinju and nearby Uiryeong, along with former Prime Minister Han Seung-soo, presented 'Entrepreneurship for a Sustainable Future.' They stated that combining Korean Confucian values, which emphasize responsibility such as respect for community and maintaining human dignity, with entrepreneurship that pursues innovation, can overcome crises like climate change, digital transformation, economic recession, widening income inequality, and war.
Former Prime Minister Han Seung-soo is delivering the keynote speech at the '2024 Jinju K-Entrepreneurship International Forum' held at Gyeongsang National University in Jinju on the 30th. Photo by Moon Chae-seok
Former Prime Minister Han Seung-soo made these remarks in his keynote speech at the 'Jinju K-Entrepreneurship International Forum' held on the 30th at the 100th Anniversary Hall of Gyeongsang National University in Jinju, Gyeongnam. The international forum is held over three days from the 29th to the 1st of next month across the Jinju area. Starting with the opening reception on the first day, the forum includes an opening ceremony, expert sessions, overseas institution sessions, sessions with the four major companies and SMEs, and talk concerts over the following two days. The forum was co-hosted by Jinju City and the Jinju K-Entrepreneurship Foundation and organized by the Jinju K-Entrepreneurship International Forum Organizing Committee. The committee estimated that about 1,000 participants, including domestic and international management experts, businesspeople, institution executives, and students, would attend during the forum.
In his keynote speech, former Prime Minister Han presented on the theme of 'Entrepreneurship and a Sustainable Future.' He diagnosed climate change and digital transformation as both crises and opportunities. He emphasized, "Entrepreneurs must fully embrace their social responsibility to promote eco-friendly technologies and sustainable business models to lead future markets," adding, "Companies can no longer operate in traditional ways and must consider how their management activities align with the sustainable development of society as a whole."
He continued, "We must overcome the uncertainties and fears brought by digital transformation, stimulate creativity and innovation, and maximize new possibilities. Entrepreneurs should stand at the center of positive movements and lead the creation of new values," and added, "Especially, the role of companies is essential to ensure that innovative technologies like artificial intelligence (AI) contribute to sustainability and human welfare."
Ayman Tarabishy, president of the International Council for Small Business (ICSB) and professor at George Washington University, argued in his keynote speech that Nammyung Jo Sik is the root of Korean entrepreneurship. Jo Sik, who founded and emphasized practical Confucianism in the 16th century, grew up in Hapcheon County, Gyeongnam, near Jinju. Professor Tarabishy cited four virtues emphasized by Jo Sik and continued in Korean entrepreneurship: rationality, patriotism and love for the people, critical thinking, and talent development. He showed the family trees of Samsung, LG, and Hyosung, introducing the connection between the founding families and Jo Sik. For example, among the ancestors of Lee Byung-chul, the founding chairman of Samsung, Lee Jong-wook was a disciple of Jo Sik’s student Jeong In-hong.
The 'Four Major Companies Global Session,' held in the afternoon, will feature speakers such as Lee Jeong-il, senior advisor at Samsung Global Research, Kim Jae-moon, head of LG Management Research Institute, Choi Nuri, executive director at GS, and Yoo Young-hwan, vice president at Hyosung, sharing cases of entrepreneurship from the four major companies that turned crises into opportunities.
Jinju Mayor Cho Gyu-il said, "The Jinju K-Entrepreneurship International Forum is rising as a representative economic forum of Korea," adding, "The cases of Korean large companies turning crises into opportunities introduced at this forum will serve as a beacon for domestic and international businesspeople facing difficulties amid uncertainty."
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