The Korea Chamber of Commerce and Industry (KCCI) celebrated the 45th Commerce and Industry Day in a ceremony on March 21 at the KCCI’s auditorium. Some 500 government officials and business leaders were in attendance, with Minister Paik Un-gyu of the Ministry of Trade, Industry and Energy and KCCI Chairman Park Yong-maan leading the event. The ceremony honored 210 businessmen with medals and citations for their contributions to the national economy, including gold medals for two CEOs; President Kang Hak-seo of Hyundai Steel, and President Lee Jung-hee of Yuhan Corp.
Minister Paik, in his congratulatory address, warned that crises felt overseas and at home among trading companies continues to be substantial, despite 3 percent economic growth and $1 trillion in exports achieved in 2017. He said he hopes that the business community would lead the efforts to overcome them.
The minister said the government will work for mid-level business firms to see results from reformed growth as soon as possible so it can take deep root at the forefront of the economy. He said the government will also take good care of the trading problems, while making efforts to push the New Southern and New Northern Policies to expand the map of our international trade.
“We will listen to what the business community want in the areas of job site visits and regulatory reform,” the minister said.
The KCCI chairman, in his congratulatory address, said those who were honored became role models in society. They either made daring investments in new businesses or boosted the competitiveness of their products to be more completive in global markets. Many of them worked hard for fair trading and just management of businesses, the chairman said.
They worked hard and helped the economy to grow more than 3 percent annually with exports rising over $1 trillion annually. The ceremony was an occasion to celebrate taking great pride in their achievements.
The chairman also touched on the difficulties that the Korean biz firms have to take care of, including pressure on international trade and other external problems. In particular, looming issues include inter-Korean relations, which are expected to have a great change this year, which need to be looked at with cool.
The chairman pointed out reform as one of the urgent tasks facing the business community. An answer to Silicon Valley competition is also another issue.
He said the threshold to establish a business and regulations should both be lowered businessmen can work hard to look at the signs of the market, creating a mature ecological structure as the base for their activities.
President Kang of Hyundai Steel is a career steel man, having been with the industry for over 35 years, leading the construction of the first integrated steel plant in the industry in Korea. He also lead the development of a system for steel production to the collection of scrap iron and other areas of steel production to strengthen the global competitive power of the Korean steel industry.
President Lee Jung-hee has been recognized for his daring investments in the R&D activities to develop new drugs and the company’s expansion into the new areas such as beauty health and health foods to boost the company’s profits.