Chairman Chey Tae-won of the Korea Chamber of Commerce and Industry (KCCI) said on July 18, “Making and spreading happiness to surrounding society is the purpose of running companies, and If everyone pitches in, it will be a driving force to change Korea.”
KCCI Chmn. Chey made the remarks while saying, “It is not easy for only one person to do something on his or her own,” at a closing session of the 49th Jeju Forum hosted by KCCI on July 18.
“We’ve heard at the forum that if we deal with AI well, we can produce products on our own, and the topic on how to vitalize areas deserted by people has been spoken, and now that high-cost society is continued, and we have to demonstrate our new entrepreneurship to deal with future bills.”
Chmn. Chey stressed that regional issues could be solved if more are solved in a perspective of spacetime since every district in Korea can be reached within five hours.
KCCI wrapped up the four-day forum, which took place from July 15 under the theme “Summer Flow, to the Sea for Growth,” designed to explore Korea’s economic growth in an AI transformation (AX).
Chmn. Chey told a talk show on AI that Korea has to explore its own specified strategies on the Korean AI industry amid hegemony between the United States and China.
“Korea find it hard to lower the cost per token like China, but a bid to win the United States with performance is not helpful, so as far as it comes to Korea’s growth strategies, Korea will have to acquire her necessary applications on our infrastructure,” he said.
“We have to change into strategies of exporting intelligence instead of goods in the future, and we should sell them in types with strengths safer than the United States and China,” Chmn. Chey said.
Minister Kim Jung-kwan of the Ministry of Trade, Industry and Resources (MOTIR) called for reutilizing corporate excess profits into future investments at a lecture he delivered under the theme “Three Crucial Moments of Korean Economy.”
“The semiconductor boom means a boom of the whole of society, and the historical truth is that there is no business keeping on a boom cycle,” Minister Kim said.
MOTIR Minister Kim selected three major crucial battlefields – AI, regionalism (decentralization) and ecosystem, say, “Our economy is at a crossroads of rebounding or not.”
He alluded to investments in provincial areas as for how to utilize the President Lee Jae Myung government’s regional balanced strategies, dubbed “five metropolitan mega cities and three specialized self-governing provinces.”
The minister also stressed the importance of the ecosystem. He analyzed that the development of huge technologies cannot be done alone in an AI era, and “If we fail to build an ecosystem, it is going to end up in failure.”
Minister Kim stressed global markets as entry targets in three crucial moments.
He said, “Korea’s population, standing at 50 million, is on the decline, and the global export market, in which Korea has a portion of 3 to 4 percent, is a market with a 97 percent share in which the nation could explore exports.”
In a lecture at the forum, Minister Choi Hwi-young of the Ministry of Culture, Tourism and Sports (MCTS) said, “The so-called K-culture is one of the nation’s top three largest core export industries earning foreign currencies, and AI emerges as a huge opportunity of the K-culture.”
Minister Choi revealed a plan to make major global cities — Los Angeles, New York and Paris — K-cultural centers by securing the rights to operate performance sites with the size of a stadium there.
Among the 500 Korean representative businessmen on hand at the forum were KCCI Chmn. Chey, Chmn. Yang Jae-saeng of the Busan Chamber of Commerce and Industry, Chmn. Park Yoon-gyeong of the Daegu Chamber of Commerce and Industry, Chmn. Park Joo-bong of the Incheon Chamber of Commerce and Industry, President Park Seung-hee of Samsung Electronics, Vice Chairman Lee Hyung-hee of SK Group, Senior Executive Vice President Shin Seung-gyu of Hyundai Motor, Senior Executive Vice President Park Joon-seong of LG, President Kim Tae-jon of GS E&C, Senior Executive Vice President Chung Kyung-sun of Hyundai Marine & Fire Insurance, Vice Chmn. Kim Sun-hjee of Maeil Daries, and Chmn. Yoon Suk-geun of the SME Committee at KCCI.
Speaker Cho Jung-shik of the National Assembly was also present. Speaker Cho became the first speaker who has attended the Jeju Forum.
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