HS Hyosung Vice Chairman Jo Hyunsang: "Bringing Korean Industry's Voice to the OECD"

Delivered congratulatory remarks at dinner marking 30 years of Korea's OECD membership
Emphasized business-led international cooperation

Jo Hyun-sang, vice chairman of HS Hyosung, stressed that businesses’ on-the-ground perspectives should be actively incorporated into international policy discussions to address changes in the global trade environment and supply chains.

HS Hyosung Vice Chairman Cho Hyun-sang delivers congratulatory remarks at the dinner marking the 30th anniversary of Korea's accession to the OECD, held at The Grand Lotte Seoul in Sogong-dong, Seoul, on the 3rd. HS Hyosung

HS Hyosung said on November 4 that Jo delivered congratulatory remarks the previous day at a dinner marking the 30th anniversary of Korea’s accession to the Organisation for Economic Co-operation and Development (OECD), hosted by the Federation of Korean Industries at The Grand Lotte Seoul in Sogong-dong, Seoul. He attended as a Korean director of the OECD Business and Industry Advisory Committee (BIAC).

In his remarks, Jo said, “As an OECD member, Korea has reached the point of standing firmly on its own feet and establishing its own direction.” He added, “The OECD’s corporate governance standards have served as an important guide for the development and globalization of Korean companies.”

He continued, “Businesses’ voices are important to realizing the OECD’s goal of ‘better policies for better lives.’ HS Hyosung, too, is directly experiencing the effects of changes in global trade rules and supply chains across a range of sectors, including mobility, artificial intelligence (AI), energy, semiconductors, aerospace and defense.”

“BIAC is an important platform for conveying the experiences and perspectives of industry to the international community,” he said. “We will strengthen our role as a bridge by bringing the views of Korean industry into OECD policy discussions and sharing the OECD’s policy achievements with businesses in Korea.”

Since being appointed a BIAC director in 2021, Jo has continued to participate in international economic cooperation activities on behalf of the Korean business community. BIAC is the OECD’s official advisory body representing major business organizations and industries in member countries, and it works to incorporate businesses’ perspectives into OECD policy discussions.

Jo is also continuing the private-sector diplomacy of his late father, Cho Suck-rae, honorary chairman of Hyosung Group. Cho served as chairman of the Federation of Korean Industries and chairman of the Korea-U.S. Business Council, among other roles, and contributed to the conclusion of the Korea-U.S. Free Trade Agreement (FTA) and the expansion of economic cooperation between Korea and Japan.

Jo has also attended the World Economic Forum (WEF), also known as the Davos Forum, since 2006. In 2007, he was named one of the forum’s “Young Global Leaders.” He has chaired the Korea-Vietnam Economic Cooperation Committee and has remained active in international economic cooperation, including being appointed a Korean member and chair of the Asia-Pacific Economic Cooperation (APEC) Business Advisory Council (ABAC) in 2024.

About 80 people attended the event, including OECD Deputy Secretary-General Frantisek Ruzicka, senior OECD officials, diplomatic representatives from 26 countries stationed in Korea, and leading Korean businesspeople. Attendees looked back on Korea’s economic development over the 30 years since it joined the OECD and discussed ways to expand global economic cooperation.

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