The Korea Chamber of Commerce and Industry (KORCHAM) announced the launch of a women's business committee composed of 50 female chief executive officers (CEOs) on the 5th. The initiative aims to provide a communication channel for women entrepreneurs and support active economic activities.

Chairperson Jeong Gi-ok of LSC Food (vice chair of Seoul Chamber of Commerce) noted, "Together with KORCHAM, the policy partner of the government and the National Assembly, we will gather the vivid voices from the field of women entrepreneurs to create reasonable policy proposals and strive to have them reflected in the National Assembly and government policies."

At the founding general meeting of the KORCHAM Women Entrepreneurs Committee, Speaker Woo Won-sik (fifth from the left in the front row), KORCHAM Executive Vice Chairperson Park Il-jun (third from the left in the front row), and Chairperson Jeong Gi-ok (sixth from the left in the front row) of the KORCHAM Women Entrepreneurs Committee (Chairperson of LSC Food) are taking a commemorative photo with the attendees./Courtesy of Korea Chamber of Commerce and Industry

The vice chairpersons include Park Chang-sook, CEO of Changwoo Textile (president of the Korea Women Entrepreneurs Association), Park Young-joo, vice president of Aseong Daiso, Yoon Yeo-won, CEO of Kolmar BNH, Lee Yoo-kyung, president of SAMBO MOTORS, Park So-young, CEO of Golden Blue, Park Hye-rin, chairperson of BioSmart, and Kim Myung-ja, CEO of SL Corporation.

Considering the impact of women's economic participation on national competitiveness, KORCHAM explained that South Korea faces the task of increasing its relatively low female economic participation rate compared to the Organization for Economic Cooperation and Development (OECD).

According to KORCHAM, South Korea's female economic participation rate stands at 54.9%, lower than the OECD average of 65%. The ratio of female CEOs is also at 3-4%, falling short of major developed countries (the U.S. at 8.8% and the U.K. at 9%).

KORCHAM plans to actively promote initiatives aimed at improving the management environment for women-owned corporations through the women's business committee in the future. They will establish a regional network of women entrepreneurs linked to 73 local chambers of commerce across the country and enhance cooperation with relevant organizations, including the Korea Women Entrepreneurs Association.

National Assembly Speaker Woo Won-sik stated in a congratulatory message on the day, "The policy proposals that reflect the perspectives and experiences of women entrepreneurs will serve as an important foundation for driving new innovations in our economy," adding, "The National Assembly will also work to listen to the voices of entrepreneurs and create policies that are practically helpful."

Speaker Woo expressed hope that the launch of the women's business committee would serve as a starting point for female entrepreneurs to share experiences, collaborate, and grow together, urging, "I hope more women will challenge themselves in entrepreneurship and management, and in doing so, contribute to enhancing the diversity and creativity of our economy."

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