SEOUL — Chey Tae-won, Chairman of the Korea Chamber of Commerce and Industry (KCCI) and SK Group, characterized the ongoing AI-driven technological revolution as a "once-in-a-century" phenomenon that presents both an existential threat and a golden opportunity for the South Korean economy.
Speaking on March 12, 2026, at the kickoff meeting of the Public-Private Council for Corporate Innovation Support held in central Seoul, Chey emphasized that the nation is currently standing at a critical "inflection point."
A Shift in Global Dynamics
Reflecting on his recent engagements with global Big Tech leaders, Chairman Chey noted the unprecedented speed of competition in the artificial intelligence sector. He highlighted a volatile global landscape where traditional alliances are shifting rapidly.
"The pace of competition is exceeding all imagination," Chey remarked. "In this environment, friends become foes and enemies become partners overnight. The modes of cooperation have become incredibly fluid."
To secure a firm foothold in the global AI race, Chey identified three essential pillars that Korea must fortify:
High-quality Data: The fuel for advanced AI models.
Robust Infrastructure: The physical and digital foundations required for massive computation.
Top-tier Talent: The human capital necessary to drive innovation.
Empowering the Startup Ecosystem
A significant portion of the chairman’s address focused on the urgency of fostering AI startups. He referenced President Lee Jae-myung’s New Year's pledge to usher in an era of "entrepreneurial fervor" where anyone can launch a venture.
"It is highly timely that startups are participating in this kickoff meeting," Chey said. "Developing a vibrant startup ecosystem is a task that cannot be delayed if we are to remain competitive."
A Platform for Action
The newly launched Public-Private Council for Corporate Innovation Support is designed to be a permanent communication channel between the government and the business community. It aims to eliminate regulatory hurdles and stimulate investment.
Chairman Chey expressed high expectations for the council, calling it an "execution-oriented platform." He urged the government to solidify a growth-centric policy paradigm, promising that the business community would respond with increased investment, innovation, and job creation.
"The KCCI will responsibly deliver the voices of the field through a nationwide tour of this council," Chey pledged.
Government’s Full-Throttle Support
Deputy Prime Minister and Minister of Finance and Economy Koo Yun-cheol, who co-chaired the meeting, echoed these sentiments. He stressed that with the global industrial paradigm shifting toward AI, Korea must expand its "economic pie" through world-leading products and services.
"We are in a period where we must pioneer global economic territories beyond our domestic market through overwhelming entrepreneurship and tireless innovation," Koo stated.
The Deputy Prime Minister committed to a "total-resource" support strategy, promising that the government would mobilize all available tools—including financial incentives, tax breaks, and sweeping regulatory reforms—to back corporate growth. Minister Koo plans to visit industrial sites monthly to hear grievances firsthand and coordinate solutions across various government ministries.
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