Newly elected Chairman Chey Tae-won of the Korea Chamber of Commerce and Industry (KCCI) in Seoul said, “The Korean businesses should try to find solutions from the view point of the people, government and the parliament, and should seek new role to meet the requirements of the times.”
KCCI board chairmen’s meeting which was held on April 12, 2021 was attended by a total 17 members of the Board.
The participants included Vice-Chairman Yoon Doh-Joon (chairman of Donghwa Pharmaceutical Co.), President Lee Dong-Woo of the Lotte Holdings, Chairman Lee Soon-Hyung of SeAh Steel, Vice Chairman Lee Woo Hyun of OCI, President Lee In-yong of Samsung Electronics, CEO Lee Han-Joo of Bespin Global, President Lee Hyung-hee of SK Suplex, Chairman Chang Byung-gyu of Krafton, Chairman Chung Ki-Ok of LSC Food, Chairperson Hyun Jeong-eun Hyundai Busienss Group, and Execurtive Vice Chairman Woo Tae-hee of KCCI.
At the meeting, the participating board members discussed what the business community in Korea should do to solve social problems and the sustainable development of the economy of Korea after the COVID-19 pandemics in Korea. They meeting also discussed days to seek and find from the position of a more positive players a new role of the organization that fits the trends of the times, and discuss and find solutions to solve the economic and social problems faced by the country today.
KCCI Board members at the meeting agreed that they should seek to take more active roles and fulfill responsibilities in the business sector in finding new models of economic development and solutions to social problems in a situation where technological change and social problems are on the rise because of the COVID-19 situation.
Chairman Chey said, “Now, it is time to redefine and seek ways to find a solution from the stand point of the people, the government, and the parliament, not from our own standpoint, and a new approach is needed to respond to economic issues.”
Then he concluded, “We at the KCCI should try to perform a pivotal role in making changes for the better and seeking continued development and improve in the business sector of Korea.”
About Chairman Chey:
Chairman Chey was born on Dec. 3, 1960, and is known as one of the few billionaire businessmen in Korea.
According to Wikipedia, Chey is the chairman of SK Group, Korea's third largest chaebol (family-owned conglomerate), that mainly engages in the provision of semiconductors, oil, telecommunication services, chemical, etc.
SK originally stands for Sunkyung, S from Sun (Seon according to the Korean government code of transliteration), which is the scond syllable of Chosun (Joseon) meaning ‘Korea’ and K from Kyung which is the first syllable of Kyungsung (Gyeongseong) meaning ‘Capital City’ which was the name for Seoul during the Japanese rule of Korea (1909-1945).
Chairman Chey is well known for the group's Hynix merger deal, which eventually becomes the world's fourth largest chipmaker followed by Samsung Electronics, Intel, and TSMC. SK Group recorded revenue and profit of $213.6 billion and $23.8 billion respectively in 2018.
As of 2021, Chairman Chey is the 10th richest person in Korea with a net worth of $3.6 billion. The bulk of his fortune comes from SK Holdings, the holding company of SK Group.
Early life and education:
Chey attended Korea University in Seoul where he received bachelor's degree in physics, and then studied at University of Chicago as a graduate student. In Chicago, Chey met his wife, the daughter of the late former President Roh Tae-woo.
The Chey family has deep ties with the University of Chicago as Chey's father, the founder of the group, as well as his wife and eldest daughter, all attended it.