SK Chairman Chey says Korea must change approach to trade under Trump

Home > Business > Economy

print dictionary print

SK Chairman Chey says Korea must change approach to trade under Trump

Korea Chamber of Commerce and Industry Chairman Chey Tae-won [KOREA CHAMBER OF COMMERCE AND INDUSTRY]

Korea Chamber of Commerce and Industry Chairman Chey Tae-won [KOREA CHAMBER OF COMMERCE AND INDUSTRY]

Korea Chamber of Commerce and Industry Chairman Chey Tae-won emphasized the need for global alliances and investment in soft power to navigate challenges posed by the second Trump administration on a current affairs program Sunday.
 
Chey, who also serves as the chairman of SK Group, stated that Korea's export-driven economic model requires new “rule-setting,” as it may be no longer valid in the renewed global economic order, which is changing from multilateralism to bilateralism.
 
“The shift in the global economic order signifies a fundamental change in the rules of the game, akin to transitioning from ssireum [Korean wrestling] to swimming,” Chey said.
 
“A player skilled in ssireum will inevitably struggle if competing under swimming rules,” he added, noting that such a player must adapt to become a swimmer or propose new rules, such as underwater ssireum.
 
Chey argued that Korea needs strong alliances to amplify its voice in the global economy, which is largely shaped by the United States, China and the European Union. 
 
The chairman also underscored the importance of investing in cultural assets to mitigate trade pressure.
 
“Korea can generate significantly greater value if Korean cuisine — including its recipes, dining etiquette, utensils, kitchen design and chef training — becomes more globalized,” he said.
 
“We need to more systematically sell cultural products, which are freer to trade pressures.” 

BY JIN EUN-SOO [[email protected]]
Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
s
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)