President Park Geun-hye applauds with leaders of major conglomerates and business leaders as they participate in their New Year’s gathering at COEX in Seoul on Jan. 5.(photo on courtesy of Cheong Wa Dae)

President Park Geun-hye’s New Year gathering with leaders of major conglomerates and business leaders took place at COEX in Seoul on Jan. 5 in an unprecedented fashion: she exchanged greetings and chatted one-on-one for nearly 15 minutes after delivering her speech.

“The driving force behind the miracle we’ve made for the past 70 years is none other than Corporate Korea, and the motivation for the miracle is their entrepreneurship,” President Park declared in the speech.

Some 1,500 people from government, business and other walks of life participated in the event, held under the catchphrase “Let’s go for realizing the three-year economic innovation plan with businessmen taking the initiative.”

Among the participants were heads of the nation’s five economic organizations, ranking government officials, including Deputy Prime Minister-Minister of Strategy and Finance Choi Kyung-hwan, Chairman Kim Dae-hwan of the Economic and Social Development Commission, Governor Lee Joo-yeol of the Bank of Korea, Saenuri Party Chairman Kim Moo-sung, and Chairman Moon Hee-sang of the opposition New Politics Alliance for Democracy's (NPAD) Emergency Committee. 

Even though the official event was over, President Park lent an ear to businessmen’s voices as she exchanged greetings and chatted with business leaders, including Hyundai Motor Group Chairman Chung Mong-koo, SK SUPEX Committee Chairman Kim Chang-keun and Kumho-Asiana Chairman Park Sam-koo, for nearly 15 minutes. 

In her 3rd year in office, President Park apparently showed her determination to overcome the economic crisis facing the nation in cooperation with businessmen. Some on hand at the event said Park’s determination to tide over the hard economic times was unswerving and sincere.

“I’d like to urge you to demonstrate resolute entrepreneurship — making proactive investments and radical innovation to help the Korean economy make a new leap forward,” President Park told business leaders. 

Park said she will make her utmost to help Korean companies make the most of the expanded scope of economic activities, taking advantage of the conclusion of Free Trade Agreements (FTAs).  

Park expressed hope that Korean up-and-coming companies could make inroads into wider markets. She likened it to the Korean parable “Koy grows up as small as 10 cm in a fishbowl, but it can develop into a big fish measuring as much as more than 1 meter in a stream.”

The event became a gathering in which the government and the private sector concurred on the need for making concerted efforts to overcome current economic challenges and advance Korea’s bid to join the list of countries with $30,000 per capita income. Government and business sides discussed ways of turning around the sagging economy and accelerating investments and employment in a sincere manner. 

In her speech, President Park stressed regulatory reform. 

In response, Chairman Hur Chang-soo of the Federation of Korean Industries (FKI) and Chairman Park Yongmann of the Korea Chamber of Commerce and Industry (KCCI) said the business community will go all out in boosting investments and creating jobs, despite difficult management conditions ahead in 2015. 

This year’s New Year’s gathering between President Park and business leaders was more amicable than last year’s. 

The topic of conversation naturally moved to the Korean movie “Kukju Market” that has been a sensation of late. President Park alluded to the film that depicts Korea’s modern history of economic development. Ranking government officials and business leaders followed suit in taking up the topic. “I saw the film ‘Kukju Market’ and burst into tears upon watching the scenes of the sweat and pain our elder generation people made,” said Chairman Kim Ki-moon of the Korea Federation of Small Business.

In his speech, KCCI Chairman Park, the host of the event, emphasized golden times, noting time is running out for the Korean economy to make an another leap forward. 

World renowned soprano Jo Soo-mi sang Bred Dina Vida Vingar — the Holy Wings, with a video being shown in the background. The video containing Korean companies’ activities attracted LLTA from participants. Chairman Park played a part in making the video with winning entry products of the 1st Corporate Korea Photo Contest, as well as writing the scenario.