
The Korea Chamber of Commerce and Industry, a major South Korean business lobby, hosted a New Year’s gathering with national business leaders to foster unity and collaboration in response to economic challenges that lie ahead, Friday.
The gathering drew around 600 attendees, including KCCI Chair Chey Tae-won and Minister of Trade, Industry and Energy Ahn Duk-geun. Top executives from major companies such as Samsung, SK, Hyundai Motor and LG, were present, along with some 30 leaders of regional chambers of commerce from cities including Busan, Daegu, Incheon, Gwangju and Daejeon.
In his speech, Chey urged the government and political leaders to unite in efforts to restore stability. "As low growth increasingly becomes the ‘new normal’ in our society, transitioning to an AI-driven industrial paradigm and adapting to shifts in the global commercial landscape are becoming more difficult."
"To address these challenges, it is crucial to implement large-scale support for next-generation growth and pursue bold, flexible reforms. The economic sector will remain focused on driving investment and job creation, laying the foundation for future growth through disruptive innovation,“ he said.
Leaders of key economic organizations were also in attendance, including Federation of Korean Industries Chair Ryu Jin, Korea International Trade Association Chair Yoon Jin-sik, Korea Enterprises Federation Chair Sohn Kyung-shik and Federation of Middle Market Enterprises of Korea Chair Choi Jin-shik.
Park Joo-bong, chair of the Incheon Chamber of Commerce and Industry, also stated, “We have even weathered the foreign exchange crisis. I hope the nation, its people and businesses can come together to foster innovation and cooperation.”
Han Sang-won, who heads the Gwangju Chamber of Commerce and Industry, said, “We are currently facing multiple challenges. However, through solidarity and collaboration, I believe we can create sustainable opportunities.”
As part of the event, participants lit lanterns symbolizing 11 different hopes for the new year and tied knots to demonstrate their commitment.
Despite the economic hardships, KCCI Vice Chair Park Il-joon expressed optimism. “The year 2025, recognized as the Year of the Blue Snake in the Chinese zodiac, represents growth and transformation. Just as a snake sheds its skin to grow, we will do our utmost to help Korea overcome its current difficulties and move toward a more prosperous future.”
First launched in 1962, the annual event marked its 63rd edition this year. This year's event fell during the national mourning period to honor the victims and families affected by the recent tragic plane crash at Muan International Airport in South Jeolla Province. “We extend our deepest condolences for the recent tragedy. We are committed to making joint efforts for a safer society,” said a KCCI official.