KCCI Chmn. Chey Calls 2026 ‘Most Crucial Year for Korea’

KCCI Chmn. Chey Tae-won delivers a welcoming speech at a New Year’s greeting meeting for business leaders on Jan. 2 (Photos: KCCI)

Greeting the New Year, business leaders converged to share their resolve and determination to help the national economy rebound.

The Korea Chamber of Commerce & Industry (KCCI) held a New Year’s greeting meeting for business leaders at KCCI Building in Jung-gu, Seoul, on Jan. 2.

It was the 64th time that business leaders gathered for the nation’s largest economic event since 1962.

Held under the catchphrase “Growing Companies, Korea Taking a Leap Forward,” the latest event was attended by some 500 business leaders, including KCCI Chmn. Chey Tae-won, Chmn. Jin Roy Ryu of the Federation of Korean Industries (FKI), Chmn. Yoon Jin-sik of the Korea International Trade Association (KITA), Chmn. Sohn Kyung-shik of the Korea Enterprises Federation (KEF) and Chmn. Kim Ki-moon of the Korea Federation of Small and Medium Business.

Attendees from the government included Prime Minister Kim Min-seok, Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol, Minister of Trade, Industry and Resources Kim Jung-kwan, Minister of Climate, Energy and Environment Kim Sung-hwan, Minister of Employment and Labor Kim Young-hoon, Minister of SMEs and Startups Han Sung-sook, Chmn. Lee Eok-won of the Financial Services Commission (FSC) and Chmn. Ju Biung-ghi of the Korea Fair Trade Commission.

Participants from National Assembly included Chmn. Jung Cheong-rae of the Democratic Party of Korea, Chmn. Jang Dong-hyeok of the People Power Party, Chmn. Cho Kook of the Rebuilding Korea Party and Chmn. Lee Jun-seok of the Reform Party.

Dignitaries, including Prime Minister Kim Min-seok, Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol, Minister of Trade, Industry and Resources Kim Jung-kwan, Minister of Climate, Energy and Environment Kim Sung-hwan, Minister of Employment and Labor Kim Young-hoon, Minister of SMEs and Startups Han Sung-sook, Chmn. Lee Eok-won of the Financial Services Commission (FSC), Chmn. Jung Cheong-rae of the Democratic Party of Korea, Chmn. Jang Dong-hyeok of the People Power Party, Chmn. Chey Tae-won of the Korea Chamber of Commerce & Industry (KCCI), Chmn. Jin Roy Ryu of the Federation of Korean Industries (FKI), Chmn. Yoon Jin-sik of the Korea International Trade Association (KITA), Chmn. Sohn Kyung-shik of the Korea Enterprises Federation (KEF) and Chmn. Kim Ki-moon of the Korea Federation of Small and Medium Business attend a New Year’s greeting meeting for business leaders at KCCI Building in Jung-gu, Seoul, on Jan. 2

Among those present from major companies were President Park Seung-hee of Samsung Electronics, SK Vice Chmn. Lee Hyung-hee, President Sung Kim of Hyundai Motor Group, LG President Ha Beom-jong, Hanwha President Lee Tae-gil, Vice Chmn. Woo Ki-hong of Korean Air, Chairperson Hyun Jeong-eun of Hyundai Group, Chmn. Kim Yoon of Samyang Holdings, Chmn. Jang In-wha of POSCO Group, Chmn. Koo Ja-eun of LS Group, and Chmn. Lee Hee-beom of Booyoung Group.

In his speech at the event, KCCI Chmn. Chey said, “The year 2026 may be the most crucial year for Korea and it is almost a last time for deciding whether a minus growth is maintained or it is a first year of new growth.”

Chmn. Chey presented said that the nation grew an average of 8 percent annually until 30 years ago, but the growth rate has declined about 1 to 2 percentage points every five years, and minus growth is feared in the years to come.

He proposed that all policies should focus on growth, saying, “If we want to capitalize on the trend of AI, the most important origin of growth, the nation has to foster the startup market for AI, build infrastructure in advance and induce overseas resources.”

Chmn. Chey called for updated laws to support the growth of companies and forming a consultative body between Korea and Japan, on top of institutionalizing mega regulatory “sandboxes”.

FKI Chmn. Ryu said, “Korea is required to usher in a new K-industry Era through a paradigm shift of the Korean economy amid fundamental changes of economic order, caused by raging currents, such as AI.”

KITA Chmn. Yun said, “Despite global trade hardships last year, the nation made a historic achievement by breaking a milestone of exporting $700 billion for the first time in history of trade.”

KEF Chmn. Sohn said, “If an environment is created for companies’ timely investing and the momentum of the market is spurred through innovative growth focusing on advanced industries, the Korean economy will undertake a transformation for taking a leap forward once again.”