Commerce-Industry Day Celebration

33rd annual event observed with MOCIE Minister Chung S.K. among dignitaries

The Korea Chamber of Commerce and Industry celebrated the 33rd Commerce and Industry Day at the auditorium of COEX in southern Seoul March 15 .
At the ceremony held to encourage the achievement and efforts of KCCI member firms, the KCCI presented the gold tower industrial medal to Chairman Hyun Jae-hyun of Tongyang Cement Industrial Co., and Suh Min-suk, chairman of the Dongil Spinning and Weaving Co.
The silver tower industrial medal went to Yoo Jae-sung, chairman of the TC Tech and Huh Byung-ha, president of Wooshin System. Cho Hyun-jae, president of Korea Pipeline Co. won the bronze tower industrial medal together with Chung Hae-young, president of Ansung Glass Industrial Co.
A total of 195 business executives won medals, including 172 winning the citations from the government and 32 who won citations from the economic organizations. The citations were given in the four sectors, such as model commerce and industry people, model managers and employees, and overseas Korean businessmen, and diplomats stationed in Korea.
Commerce, Industry and Energy Minister Chung Sye-kyun, in his congratulatory address, said the national economy has a national mission of creating many jobs to narrow the wealth gap and continue to expand the potential of its growth. The government should continue to relax regulations to set up an environment conducive to business investments for future growth and build an industrial structure for balanced growth of local regions and the capital area for smooth circulation of growth and distribution. The government should also provide financial and technology support to SMEs having trouble making investments in facilities.
KCCI Chairman Sohn Kyung-shik, in his commemorative address, said the task for Korea at the threshold of becoming an advanced country is to further solidify the sings of economic resurgence and expand growth base and potential for further growth in the economy. In order to bring that about, we should create an environment good for doing business to encourage investment, develop new technologies that will ensure future growth of the country and explore next generation growth engines.
Present at the ceremony were Kang Shin-ho, chairman of the Federation of Korean Industries(FKI), Kim Yong-koo, chairman of the Federation of Small and Medium Business, and Lee Sok-young, standing vice chairman of the Korea International Trade Association, among others. Also present were some 1,200 family members of model commerce and industry people, model managers and staff, overseas Korean businessmen, and officers and staff of the companies receiving the awards and award-winning business executives and their families.
The nation's first commercial chamber, the Hansong(i.e.Seoul) Chamber of Commerce, came into existence in 1884 as the nation struggled to transform itself into a modern state amidst fierce competition from foreign powers to dominate the country.
What motivated this creation was the urgent need of Korean merchants to organize their efforts to combat overpowering foreign capital and goods, largely from Japan, which launched full-scale inroads into domestic markets and enjoyed unjust privileges under forcibly contracted agreements. In the following years, the nation saw several similar chambers sprout around the country.
In 1885, the Korean government provided a legal basis to those voluntarily initiated chambers by proclaiming an ordinance, which represented the first written article pertaining to the status of the chamber. By order of times, the early chambers centered their activities on seeking to retrieve lost economic autonomy. It endeavored to modernize traditional ways of business management, adjust complicated regulations and set up modern business firms, factories and banks to effectively vie with foreign competitors.
However, the nation's failure to keep its sovereignty as the result of its merger with Japan in 1910 nullified those efforts. The Japanese colonial administration disbanded existing chambers of a nationalistic character in 1915 and established a pro-Japan chamber. nw

MOCIE Minister Chung Sye-kyun, left, shakes hands with the recipient of an industrial medal.
(right) A view of the 33rd Commerce & Industry Day ceremony held at COEX in Seoul March 15 .