Chey Tae-won: “Global Competition Is a Race Against Time... National Assembly Should Be a ‘Playing Coach’ on the Ground”

National Assembly and Korea Chamber of Commerce and Industry Launch "National Assembly Economic Leap Committee"

Speaker Jo Jung-sik and Chairman Chey Tae-won Appointed as Co-chairs

Three Subcommittees Formed by Key Standing Committees, Major Company CEOs Serve as Advisors

Chey Tae-won, Chairman of the Korea Chamber of Commerce and Industry (and Chairman of SK Group), urged the National Assembly to minimize legal and institutional uncertainties so that companies can accelerate their investments in the future amid rapidly changing global circumstances. Emphasizing the need to increase the speed of legislative support in line with the pace of corporate innovation, he also proposed that the National Assembly play the role of a "playing coach" on the industrial frontlines.

At the launch ceremony of the "National Assembly Economic Leap Committee" held at Sarangjae, National Assembly, on the morning of September 9, Chairman Chey stated, "For companies, change always represents an issue of predictability, leading to a time-related dilemma over whether we should wait until things become certain. In recent times, global competition has become an unprecedented race against the clock. Simply waiting until the situation is certain means we will continuously miss once-in-a-generation opportunities for a leap forward."

Chairman Chey Tae-won of the Korea Chamber of Commerce and Industry (right) is delivering a greeting at the launch ceremony of the National Assembly Economic Leap Committee held at Sarangjae, National Assembly, on the morning of the 9th. Photo by Kim Jinyoung

He further emphasized, "While we have little control over international circumstances, it is vital that the National Assembly reduce variables that may occur domestically. Only then can companies carry out their planned investments and strategies even amid rapidly shifting global dynamics. Companies will only be able to embrace new challenges and innovations when there is clarity on what is possible, when, and how."

As the key prerequisites for an economic leap forward, he cited both "speed" and the "balance" between legislation and innovation. He said, "A leap forward is measured by how far we can progress within a short period, which is essentially a matter of speed. Ultimately, it is crucial to achieve a balance between the speed of corporate innovation and the legislative speed of the National Assembly."

Chairman Chey also pledged, "The Korea Chamber of Commerce and Industry, by gathering opinions from member companies and experts of various fields, has prepared policy proposals to strengthen competitiveness in advanced industries, including artificial intelligence (AI), secure future growth engines, and invigorate business activities. We will continue not only to make simple requests or demands but to propose progressive solutions for fostering new technologies and building a new Korea."

Jo Jeong-sik, Speaker of the National Assembly (left), and Chey Tae-won, Chairman of the Korea Chamber of Commerce and Industry, are attending the inauguration ceremony of the Economic Leap Committee held at Sarangjae in the National Assembly on the 9th. Photo by Yonhap News

The launch of this committee was initiated following a proposal by National Assembly Speaker Jo Jung-sik to Chairman Chey during the Jeju Forum last July to establish a permanent cooperation framework. This marks the establishment of an official, ongoing communication channel where the National Assembly and business leaders can deliberate on pressing issues, moving beyond the previous format of one-off meetings.

The committee will be co-chaired by Speaker Jo Jung-sik and Chairman Chey Tae-won. Kim Sung-won, Chairman of the Industry, Trade, Energy, SMEs and Startups Committee, will head the 1st Subcommittee (Industry); Cho Seung-rae, Chairman of the Strategy and Finance Committee, will lead the 2nd Subcommittee (Tax and Finance); and Yoo Dong-soo, Chairman of the Political Affairs Committee, will head the 3rd Subcommittee (Fair Trade and Capital Markets). Major company CEOs from Samsung, SK, Hyundai Motor, LG, Hanwha, Lotte, POSCO, GS, Emart, CJ, Korean Air, HD Hyundai, Doosan, and Hyosung will join as advisory members from the business community.

Working-level discussions will be supported by a task force (TF) co-led by Yoon Sang-eun, Senior Policy Secretary to the Speaker of the National Assembly, and Kim Jung-il, Standing Vice Chairman of the Korea Chamber of Commerce and Industry. The task force will comprise professional staff from the National Assembly Secretariat, National Assembly Research Service, National Assembly Budget Office, working staff from the Korea Chamber of Commerce and Industry, and external experts who will provide in-depth support for legislation and policy reviews.

On the same day, the Korea Chamber of Commerce and Industry delivered to the National Assembly its "Economic Leap Proposal for the Business Community," which reflects the opinions of companies on the ground. The proposal centers on three main agendas: △reforming regulations for advanced industries and establishing systems to incentivize corporate growth; △supporting advanced industries such as AI and strengthening supply chain resilience; △modernizing the fair trade system and rationalizing the capital market system.

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