Chey Tae-won, chairman of SK Group and the Korea Chamber of Commerce and Industry, said, "At this time, if we fall behind in the speed of change, we will become obsolete, and we must change at a faster pace to survive." He added, "We must have the courage to try new things that we have not done before. The first step is to change outdated laws and systems."
Chey noted at the '52nd Celebration of Commerce Day' held on the 19th at the international conference hall of the Korea Chamber of Commerce and Industry in Jung-gu, Seoul, that "With the change in the global trade environment, inflation, and the paradigm shift in industry driven by artificial intelligence (AI), the rules of the game in our industry are changing."
Chey stated, "Outdated laws and systems based on the past industrial era are increasingly difficult to apply." He emphasized, "There is not enough time to untangle the intricate web of regulations one by one. We need bold innovation that cuts through regulations that constrain private creativity and innovation."
He mentioned, "There must be flexible courage for economic structural transformation," adding, "In addition to the export-led economic model, we need to diversify investments, including strategic overseas investments, and increase service exports using K-content." He continued, "Flexible approaches are necessary to spur domestic demand alongside a rigid labor market."
He also mentioned the need to embrace technological changes like AI. Chey explained that it is time to accept comprehensive changes, from production methods and work processes to organizational culture, along with a shift in perception of viewing spending as investment, not expense.
Commerce Day, established to acknowledge the efforts of businesspeople contributing to national economic development and local communities, is commemorated on the third Wednesday of March each year. The event was attended by Chey, Minister of Trade, Industry and Energy An Deok-geun, chairman of the People Power Party's emergency committee Kwon Young-se, House minority leader Park Chan-dae, among over 400 businesspeople nationwide.
Sung Ki-hyung, advisor to Hyundai Mobis, So Cheol-young, president of Lam Research Manufacturing Korea, and Lee I-joo, CEO of Samdong, received the highest honor, the Gold Tower Industrial Medal. Choi Hae-tae, president of Geumchang, and Oh Jeong-kang, CEO of Enchem, received the Silver Tower Industrial Medal, while Jeong Gi-ok, chairman of LS C-Food, and Yang Byeong-ho, vice president of POSCO, received the Bronze Tower Industrial Medal.
The Iron Tower Industrial Medal was awarded to Jo Ik-seong, vice chairman of Dong-A Otsuka, and Joo Won-ho, vice president of HD Hyundai Heavy Industries, while the Stone Tower Industrial Medal went to Yang Seung-gwan, CEO of DuPont Specialty Materials Korea, and In Yu-seong, CEO of RedcapTour. The Industrial Award was given to six individuals, including Park Young-joo, vice president of Asung Daiso, Lee Seong-kyu, CEO of Arne Korea, Kim Yong-min, vice chairman of Foosung, Yoon Si-tak, CEO of Najon, Lee Seong-dong, CEO of APACT, and Seo Yeong-yul, chairman of Pratama Abadi Industry.