Choi Tae-won: "In an Era of Drastic Changes like AI, Korean Companies Must Strive to Solve Social Issues"

Keynote Speech at the Entrepreneurship Roundtable Event
Over 500 Corporate Representatives Attend, Including Leaders Club
Emphasis on the Need for Solidarity and Cooperation Amid Changing Environment
Discussion on Addressing Local Youth Employment and Housing Issues

Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry and SK Group, stated, "Our society is facing a period of significant change due to shifts in the trade environment, inflation, and AI (artificial intelligence)," adding, "Amid many challenges and crises, our companies must also make efforts to solve social problems in pursuit of economic value."

On the 11th, at the keynote speech during the 'ERT (Entrepreneurship Roundtable) Member's Day' event held at the Chamber of Commerce building, Choi Tae-won said, "It is difficult for society as a whole to develop if the most vulnerable parts collapse."

He emphasized the need for companies to consider and strive to solve social problems. Chairman Choi explained, "Currently, companies think that making money and solving social problems are two completely different things," adding, "However, if the concept that solving social problems benefits companies is established, investments will increase, and a virtuous cycle of greater social impact will become possible."

He also stressed the necessity of solidarity and cooperation to solve social problems. He said, "There is a need for solidarity and cooperation among various stakeholders. This is the value of relationships," adding, "Our society is connected through the government, companies, their members, consumers, and local communities, forming a social safety net."

Chairman Choi emphasized, "The value of relationships, that is, solidarity and cooperation, is very important in solving social problems," and added, "Platforms and systems that can generate synergy are needed."

Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry, is delivering the keynote speech at the New Entrepreneurship Council (ERT) Members Day held at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul on the 11th. 2025.2.11 Photo by Jo Yong-jun

ERT is a consortium of companies participating in solving social problems by utilizing corporate technology and capabilities, currently involving about 1,750 companies. The Leaders Club is a meeting body composed of CEOs of major member companies actively participating in ERT activities, and it was expanded from 26 to 37 companies on this Members Day. Regional Chambers of Commerce (Busan, Daejeon, Anyang-Gwacheon, Incheon, Gwangju, Ulsan), Hoban Industries, Woori Financial Group, Hyundai Marine & Fire Insurance, and the American Chamber of Commerce in Korea also joined.

The event was attended by Chairman Choi Tae-won, Samsung Electronics President Park Seung-hee, SK Communications Chairman Lee Hyung-hee, Hyundai Motor Vice President Kim Dong-wook, LG Vice President Park Joon-sung, Lotte Holdings Vice President Lim Sung-bok, POSCO Holdings Vice President Kim Kyung-han, HD Hyundai Vice President Ryu Geun-chan, Doosan Management Research Institute Vice President Kim Sung-tae, Booyoung Housing CEO Choi Yang-hwan, HS Hyosung Advanced Materials CEO Lim Jin-dal, Mirae Asset Securities Vice Chairman Kim Mi-seop, Woori Financial Group Vice President Jeon Hyun-gi, LSC Food Chairman Jung Ki-ok, Jeju Chamber of Commerce Chairman Yang Moon-seok, and other Leaders Club members, along with about 500 executives and employees of member companies.

At the event, a business agreement between ERT and the Community Chest of Korea was announced. Kim Byung-jun, Chairman of the Community Chest of Korea, said in his congratulatory speech, "We will closely cooperate to practice corporate entrepreneurship and expand social contribution," adding, "Through collaboration between the two organizations, we will solve regional problems and expand a virtuous cycle structure where companies and local communities coexist." ERT plans to start collaboration this year by promoting joint projects with the Community Chest of Korea to solve regional problems.

Chairman Choi Tae-won of the Korea Chamber of Commerce and Industry, along with attendees, is viewing the ERT Exhibition Wall before the main event of the New Entrepreneurship Council (ERT) Members Day held at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul on February 11, 2025. Photo by Jo Yong-jun

In the following forum, the current status of major social problems in Korea was diagnosed, and discussions were held on new social issues that companies should pay attention to. In addition, excellent corporate cases by sector were shared to provide opportunities for mutual learning and practical action.

First, Do Hyun-myung, CEO of Impact Square, who presented the research results on ‘Major Social Problems and the Role of Companies,’ explained, "We aimed to propose the direction of corporate roles in solving social problems by analyzing social issues that the public considers important alongside areas where companies are currently focused." He presented a ‘Social Problem Map’ that classified 42 social problems into four types based on public interest (y-axis) and corporate activity (x-axis).

Do said, "Among various social problems, youth issues are highly interconnected with employment, income, housing, and other social problems, making the need for resolution significant. An integrated approach can create greater effects." As a concrete solution example, he proposed the 'Open Innovation Project with Youth Local Companies' to support the growth of local youth. The detailed directions include workation, region-specific tourism, support for local product sales, and work education, aiming to activate youth local companies to establish a foundation for independence and revitalize the local economy.

Following the presentation, a discussion was held to share perspectives from various sectors on youth issues and discuss support solutions. Na Young-hoon, Executive Director of POSCO Holdings, said, "POSCO has been operating youth share houses and employment-startup academies to address local youth employment and housing issues," adding, "If a joint project involving many companies applies economies of scale, an efficient approach will be possible." Jang Myung-seok, CEO of Made in People, participating in the Youth Village project, said, "More youth are revitalizing the local economy by branding depopulated areas attractively through local festivals and workations," but noted, "However, the region has an absolute shortage of residents and consumers, making it difficult for youth local companies to sustain, causing great anxiety about economic activities," emphasizing the need for support.

Professor Kim Jae-gu of Myongji University, who moderated the session, said, "Collective impact can be created through shared goals, performance measurement systems, and central support organizations," adding, "I hope ERT companies become hubs supporting local youth so that population decline becomes an opportunity for innovation."

In the afternoon, a session was held to share excellent practical cases of various ERT member companies. Under the themes of 'Emerging Issues Companies Should Focus On' and 'New Methodologies for Solving Social Problems,' the session provided opportunities to share innovative corporate practices addressing recently emerging social issues such as youth mental health and transportation-vulnerable groups.