[New Year's Address] Han Sangwon, President of Gwangju Chamber of Commerce and Industry

"Promoting Growth and Development by Addressing Local Issues"

Sangwon Han, Chairman of Gwangju Chamber of Commerce and Industry

I would like to express my deepest condolences for the many lives lost due to this unbelievable tragedy, and I cannot contain my sorrow and devastation. I pray for the repose of those who were tragically lost, and I sincerely extend my heartfelt sympathy to their families.

Everyone! We are at the starting point of the new year of Eulsanyeon. Just as the sun rises through pitch-black darkness, I hope that this year, Eulsanyeon, will be a year in which our country overcomes all uncertainties and soars toward a better future.

For us businesspeople, crisis has always existed by our side like a shadow. In particular, I believe that the past year, 2024, was an exceptionally difficult one.

The prolonged period of high inflation, high interest rates, and high wages, along with the prolonged wars in Europe and the Middle East, sluggish consumption and investment, have all contributed to deepening the global economic recession and supply chain instability.

In particular, most of our country's eight major strategic industries?semiconductors, displays, secondary batteries, as well as steel, petrochemicals, wireless communication devices, shipbuilding, and automobiles, which have led the Korean economy?are suffering from a flood of supply and dumping exports from China. China's pursuit, which is even more threatening than the tariff barriers from the United States, is sweeping across all industrial sectors like a tidal wave, signaling a state of serious crisis.

The construction sector as well has just emerged from a long, dark tunnel, with many companies experiencing liquidity crises due to the prolonged recession and rising raw material prices over the past year.

Even in the midst of these complex difficulties, it is truly something to be grateful for that companies like Kia and Samsung Electronics have led the regional economy based on their solid performance.

Kumho Tire has also fired the signal flare for its revival to conquer the global market along with its management normalization, and Gwangju Global Motors has established a bridgehead for preempting the future market by beginning full-scale overseas exports of mass-produced electric vehicles.

I believe these achievements are the result of not only the aforementioned anchor companies but also many partner companies and related organizations coming together with one mind and one heart for mutual growth. I sincerely thank all the businesspeople who have devoted themselves time and again even in difficult circumstances.

Furthermore, our Gwangju is establishing itself as a 'new economic city leading tomorrow,' being the only metropolitan city selected as an outstanding local government for investment attraction, by improving the investment environment and actively attracting companies centered on future new industries such as the National Industrial Complex for Future Vehicles, specialized complexes for materials, parts, and equipment, AI convergence complex, and Opportunity Development Zone designation. The swift administrative procedures for the construction of a complex shopping mall are also a meaningful achievement toward creating a 'fun city where imagination becomes reality.'

Jeollanam-do has also attracted significant investments in advanced industries such as secondary batteries, aerospace, and offshore wind power, and has enhanced the global status of Jeonnam by successfully hosting various international events such as the Suncheon Bay International Garden Expo, the International Ink Biennale, and the International Agricultural Expo.

Respected citizens and businesspeople of Gwangju and Jeonnam!

In the new year, the uncertainties and challenges surrounding us will only intensify.

With the launch of the Trump administration's second term, trade barriers are expected to rise even higher, and due to the escalating US-China conflict, concerns about exchange rate instability and supply chain crises are likely to persist. Raw material prices are also expected to remain high, and China's low-priced supply offensive is expected to intensify further.

In times like these, our senior generations must create role models of mutual growth and win-win cooperation, giving dreams and hope to future generations and paving the way for them to take root in the region and lead its growth and development.

We must not only lead the paradigm shift in core industries such as automobiles and home appliances, but also gather our strength and wisdom to overcome the recession in sectors such as construction and petrochemicals and to achieve a sustainable future like RE100.

To this end, the Gwangju Chamber of Commerce and Industry will focus its capabilities on resolving urgent local issues such as the integrated relocation of Gwangju's civilian and military airports and the creation of the AI convergence complex, working together with local governments and other stakeholders.

In particular, we will listen to the voices from the field and various regulations that hinder business activities, and strive to make Gwangju a better place to do business.

We will faithfully fulfill our role as mediators by boldly reforming unnecessary regulations so that the stagnant construction industry can stretch and rise again, thereby contributing to and revitalizing the local economy.

We are also determined to meet frequently with the two major labor unions to lead the declaration of industrial peace, making Gwangju and Jeonnam the best places to do business.

In this era of the knowledge economy, where AI and cloud big data are leading the future, even if the path ahead is unfamiliar, we will draw on the past 50 years of experience in creating something from nothing. Through new ideas and bold challenges, we will overcome the crises we face and serve as a stepping stone for Gwangju and Jeonnam to be reborn as central cities leading Korea's new growth.

Once again, I pray for the repose of those who lost their lives in the Jeju Air passenger plane disaster, and we in the business community will focus our capabilities and work closely with the relevant authorities to ensure that measures following the disaster are carried out swiftly and thoroughly. I wish health and good fortune to all of you and your families.