SK Chairman Chey says Korea must change approach to trade under Trump
Published: 19 Jan. 2025, 17:50
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- JIN EUN-SOO
- [email protected]
![Korea Chamber of Commerce and Industry Chairman Chey Tae-won [KOREA CHAMBER OF COMMERCE AND INDUSTRY]](https://koreajoongangdaily.joins.com/data/photo/2025/01/19/320c81ce-399a-46a0-ad6c-89ddf37decbb.jpg)
Korea Chamber of Commerce and Industry Chairman Chey Tae-won [KOREA CHAMBER OF COMMERCE AND INDUSTRY]
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as the chairman of SK Group, stated that Korea's export-driven economic model requires new “rule-setting,” as it may be no longer valid in the renewed global economic order, which is changing from multilateralism to bilateralism.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]]
with the Korea JoongAng Daily
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