Chey Tae-won: "Let’s Find Solutions to Protectionism at APEC"... Proposes Korea-Japan Solidarity and Expanded AI

APEC CEO Summit Promotion in Gyeongju, North Gyeongsang Province
Proposing a New Growth Formula for Korea: "The Export Model No Longer Works"
Calling for Major Shifts Including Korea-Japan Economic Bloc and AI Investment

Chey Tae-won, Chairman of SK Group and the Korea Chamber of Commerce and Industry, emphasized that the upcoming Asia-Pacific Economic Cooperation (APEC) CEO Summit presents an opportunity to seek survival strategies for Korea in the era of protectionism.

In a joint interview released on the 26th by the three YouTube channels-SamproTV, Understanding, and Apkwon-Chairman Chey stated, "At this APEC summit, leaders of member countries, including U.S. President Donald Trump and Chinese President Xi Jinping, will gather for extensive discussions. This could become a watershed moment that determines the direction of U.S.-China relations for the next several years." He is serving as the chair of this summit in his capacity as head of the Korea Chamber of Commerce and Industry. The summit will also see the participation of numerous global business leaders, including Jensen Huang, CEO of Nvidia.

Chairman Chey Tae-won of SK Group and Chairman of the Korea Chamber of Commerce and Industry is speaking in a joint interview released on the 26th by the three YouTube channels: SamproTV, Understanding, and Apkwon. SK

Chairman Chey noted, "It will be difficult to restore free trade under the World Trade Organization (WTO) system as in the past," and added, "In an era where tariff barriers have become the norm, Korea’s export-driven growth formula that has lasted for 60 years no longer works." As solutions for the Korean economy, he proposed Korea-Japan economic solidarity, growth-oriented regulatory reforms, investment in artificial intelligence (AI), attracting foreign talent, and the creation of mega sandboxes.

Regarding Korea-Japan cooperation, he explained, "If the two countries join forces, they can create a market worth 6 trillion dollars and form an economic bloc on par with the world’s fourth largest. In the current trend of economic bloc formation, it is essential to achieve economies of scale."

He also stated, "We need to move away from the outdated approach of unconditionally protecting small and medium-sized enterprises and shift regulations to support growing companies." He called for strengthening key supply chains by industry and designing policies centered on strategic sectors such as semiconductors.

He remarked, "The competition for AI supremacy is reminiscent of the arms race during the Cold War era. Even with geopolitical uncertainties, necessary investments must be made, as falling behind carries significant risks." He further suggested, "We need to establish mega sandboxes in each region to serve as AI laboratories and testbeds, and introduce a green card system to enable foreign talent to stay in Korea and create value."

Finally, he emphasized, "We must move away from a manufacturing-centered structure and shift to high-margin soft goods and service industries. Discovering 'soft money,' such as the industrialization of Korean cuisine, is crucial."

Explaining the background of these proposals, Chairman Chey said, "My late father, Chey Jong-hyun, always said, 'A company must grow together with the community.' A company is not merely a competitor, but an entity that grows together with society."