Tae-Won Chey: "We Must Keep Using AI to Adapt... Companies Need to Re-Architect for AI"

"Adopting AI Won't Automatically Deliver Results"

49th Jeju Forum Brings Together Over 500 Business Leaders

Theme: "Into the Sea of Growth" ... "Let's Open Up Economic Growth Potential"

Taewon Chey, Chairman of the Korea Chamber of Commerce and Industry, stressed at the opening ceremony of the KCCI Jeju Forum that "We must continue to use AI in order to adapt to future AI," and emphasized that "a Re-Architect of our work methods, a redesign tailored to AI, is essential." In response, Speaker of the National Assembly Jojung-sik expressed his agreement that the world has entered a grand transition era with AI and pledged to establish a "Committee for Bold Economic Leap" directly under the Speaker to support innovation in companies.

At the opening ceremony of the "49th KCCI Jeju Forum," held for three nights and four days at the Shilla Hotel in Jeju starting July 15, Chairman Chey remarked, "Change is not achieved merely by raising questions," and explained, "Only when we move beyond simply introducing (AI) and reinvent the way we work, the accumulated strengths of our economy will lead to new growth."

The KCCI Jeju Forum, which began in 1974, marks its 49th session this year and is the largest economic forum in South Korea. The forum was attended by Chairman Chey, Jaesaeng Yang, Chairman of Busan Chamber of Commerce and Industry, Yoonkyung Park, Chairman of Daegu Chamber of Commerce and Industry, Joobong Park, Chairman of Incheon Chamber of Commerce and Industry, and other chamber heads from across the country.

In addition, more than 500 leading businesspeople in Korea gathered to discuss growth solutions for the Korean economy, including Seunghee Park, President of Samsung Electronics; Hyunghee Lee, Vice Chairman of SK; Seungkyu Shin, Executive Vice President of Hyundai Motor Company; Junseong Park, Executive Vice President of LG; Taejin Kim, CEO of GS E&C; Kyungseon Jeong, Executive Vice President of Hyundai Marine & Fire Insurance; Sunhee Kim, Vice Chairman of Maeil Dairies; and Seokgeun Yoon, Chairman of the KCCI SME Committee and President of Ilsung IS.

The Korea Chamber of Commerce and Industry held the 49th KCCI Jeju Forum at the Shilla Hotel in Jeju from July 15 for a period of three nights and four days. Taewon Chey, Chairman of the Korea Chamber of Commerce and Industry, is delivering the opening address. Korea Chamber of Commerce and Industry.

This year’s forum opened with remarks by Chairman Chey. Regarding the theme of this year’s forum, "Summer Flow, Into the Sea of Growth," he explained, "This represents our desire to expand the possibilities for economic growth." He added, "The sea of growth cannot be crossed alone. While it may be difficult to cross the sea with just a single log, like a raft that advances by tying logs together and riding the waves, our economy can also move on to greater horizons when businesses, government, National Assembly, and the public all row together."

He described AI as "a massive wave we must all ride together" and noted, "AI, which used to simply answer questions, has now become a ‘colleague’ and ‘agent’ who revises quotations and even writes emails to clients on our behalf." He further pointed out, "For those who board this wave early, it will be a new starting line; for those left behind, it may become an insurmountable wall. However, our nation has always turned the waves of industrialization and informatization into opportunities."

He also stated that simply introducing AI will not automatically yield results. Chairman Chey noted, "AI works to the extent it is tasked." He explained, "Those who know what they do not know and what questions to ask, those who can connect people and AI through quality questions, will take the lead." He added, "If you do not steadily feed AI with your own data, AI that may be useless for you could end up performing well for your competitors." He emphasized, "You must continue to teach it knowledge in order for it to provide meaningful answers."

Speaker of the National Assembly Jojung-sik and Chairman of the Korea Chamber of Commerce and Industry Choi Tae-won are applauding with attendees to celebrate the opening at the ‘49th Korea Chamber of Commerce and Industry Jeju Forum’ held at Shilla Hotel Jeju on the 15th. Korea Chamber of Commerce and Industry.

On this day, Speaker Jo made history as the first National Assembly Speaker to attend the event to offer his congratulations. In his congratulatory address, Speaker Jo stated, "The world is in the midst of a massive transition period," and explained that the AI revolution, the robotics industry, and the semiconductor industry are transforming the landscapes of both industry and labor.

He also pledged that the National Assembly would confront the various, complex crises together with entrepreneurs. He pledged to establish a "Committee for Bold Economic Leap" directly under the office of the Speaker. Speaker Jo said, "It would be good for the committee to serve as a practical cooperation platform where the National Assembly and the business community can always meet to develop realistic solutions to on-site challenges, and, in turn, facilitate the legislative, budgetary, and administrative changes needed to design South Korea’s growth strategies." He emphasized that, through this committee, he would create a virtuous cycle where the legislative actions of the National Assembly lead to innovative outcomes in companies.

The forum’s main sessions begin on the second day (July 16). The theme for the second day is "Leaders’ Challenges," with the intent of sharing firsthand accounts from leaders on the frontlines of industry. The opening keynote will be delivered by Minister of Trade, Industry and Energy Jungkwan Kim. Through his lecture on "The Three Critical Battlefields of Our Economy," he will present core government strategies for securing the markets of the future as well as provide practical roadmaps for Korean companies.

Next, Suckchak Ohk, professor at Seoul National University and CEO of Galux, a pioneer in AI drug development, will propose strategies for leaders to convert technological limitations into business opportunities. This will be followed by lectures from Hyungwoo Kim, CEO of Travel Wallet who pioneered innovation in overseas remittance and payment services, and Hongguk Choi, CEO of Olgot, who sparked the global frozen kimbap boom.

The third day of the forum (July 17) will focus on AI. Jaewook Lee, director of the SNU AI Institute, will discuss the present and future of AI in Korea, and Jinseok Jang, managing director and partner at BCG Korea, will propose survival strategies for companies in the era of AI from a consulting expert’s perspective. Notably, on this day, Chairman Chey will engage in a discussion with Jaewook Lee, director of the SNU AI Institute, and Sukjoon Kwon, a semiconductor expert and professor at Sungkyunkwan University.

The final day (July 18) will focus on the overall changes and challenges facing Korean society. First, Hwiyoung Choi, Minister of Culture, Sports and Tourism, will give a keynote speech on the "Policy Direction of the K-Culture Industry." Next, Kangrae Ma, professor at Chung-Ang University, will propose survival strategies to overcome national crises such as population decline and regional extinction. Kyungseon Jeong, executive vice president of Hyundai Marine & Fire Insurance, will discuss the need for companies to expand their social roles, and singer Shawn will share insights on the value of sharing.

This content was produced with the assistance of AI translation services.