HS Hyosung said Wednesday that Vice Chairman Cho Hyun-sang continued his private diplomacy activities to mark the 30th anniversary of OECD membership.
Cho attended the "Dinner Commemorating the 30th Anniversary of Korea's OECD Membership," hosted by the Federation of Korean Industries at The Grand Lotte Seoul in Soong-dong, Seoul on Tuesday, as a Korean director of the OECD Business and Industry Advisory Committee (BIAC), and delivered a congratulatory speech.
The event was attended by approximately 80 people, including Frantisek Ruzicka, Deputy Secretary-General of the OECD, other high-ranking OECD officials, diplomatic envoys from 26 countries stationed in Korea, and major domestic business leaders.
In his speech, Cho said, "As an OECD member state, Korea has reached a true 'age of 30' (while, meaning to stand on one's own), where it can set its own goals and stand independently," adding that "OECD corporate governance standards have served as an important guide for the development and globalization of Korean companies."
He said, "To realize the OECD's pursuit of 'Better Policies for Better Lives,' the voices from business sites are crucial," noting that "HS Hyosung is also directly feeling the impact of global trade norms and supply chain changes in various fields such as mobility, AI (artificial intelligence), energy, semiconductors, aerospace, and defense industry."
He mentioned, "BIAC is an important platform for conveying these industrial experiences and voices to the international community," adding that "As a Korean director of BIAC, I will further strengthen the role of a bridge by reflecting the opinions of the Korean industrial sector in OECD policy discussions and disseminating OECD's policy achievements to domestic business sites."
Cho has continued related activities since being appointed as a BIAC director in 2021. BIAC is an organization representing major economic bodies and industries of OECD member states. It performs the official advisory role of reflecting opinions from business sites in OECD policy discussions. Vice Chairman Cho has primarily served as a kind of bridge, conveying the positions of Korean companies on global trade and industrial policies through his activities on the BIAC board.
A business community official said, "In the case of Vice Chairman Cho, he is carrying on the spirit of 'private diplomacy' that his late father, former Honorary Chairman Cho Seok-rae of Hyosung Group, emphasized throughout his life."
Former Honorary Chairman Cho also took the lead in enhancing the international standing of the Korean business community during his lifetime by serving as chairman of the Federation of Korean Industries and chairman of the Korea-US Business Council, among other roles.
in INDUSTRY
