Sohn Kyung Shik, one of the CJ group's two chairmen, will be the Korea Chamber of Commerce and Industry's (KCCI) new president. KCCI's 50,000 member companies seem have higher expectations of him than they might otherwise. The organization urgently needs to be able to be trusted again in the wake of former president Park Yong Song's dishonorable downfall because of the situation at Doosan. However, there is even more to be done. Once Sohn has internal matters set in order, he needs to exert himself in establishing KCCI as an body that is truly Korea's most representative business organization. The fact that Sohn is from a jaebeol and yet is not a direct member of a jaebeol tycoon family could be an advantage in making that happen.
KCCI is a legislated organization, based in the Chamber of Commerce and Industry Act. Member companies include those from all areas of Korean business. Its very character is different from that of the Federation of Korean Industries (FKI), a group organized largely by jaebeols, and yet it is FKI that has always enjoyed "elder brother" status among business organizations, the result being that the views of jaebeols have been promoted as those of the whole business community. That was because KCCI has failed to carry out the work it was entrusted with.
The only way for KCCI to find its proper place will be for it to work on elevating its own status as it welcome as new president. Its articles of incorporation state exactly what needs to be done; "KCCI exists to seek the common benefit of member companies… …and increase the competitiveness of commerce and contribute to its development." It needs to be able to call for regulations on and reform at jaebeols if doing that benefits business as a whole. There is no reason for it to exist if it is going to repeat the views of FKI like a parrot and do nothing more than speak for the jaebeols.
More than anything else it needs to listen to the concerns of a wide range of companies and increase its ability to develop policy. Also, it must not neglect the work of increasing its ability to produce and supply companies with the information need. When that wins the trust of member companies, KCCI will find its natural place as the country's most representative business organization in due time. In 2007, companies will no longer be required to join. Forget about reclaiming its proper status; if it doesn't change, KCCI might find itself in a serious crisis.
The Hankyoreh, 23 November 2005.
[Translations by Seoul Selection]
[Editorial] Chamber of Commerce Must Be Reborn |
