In the 'Fake News Controversy' of the Korea Chamber of Commerce and Industry...Chairman Chey Tae-won, "Procedures for suspension of events and reappointment of executives"

*This content was translated by AI.

Chey Tae-won, chairman of the Korea Chamber of Commerce and Industry, who is on a business trip to the U.S., recently bowed to the issue of the credibility of the controversial inheritance tax press release, declaring a suspension of the host event for the time being.

Chairman Choi sent a letter to former members on the 12th, stressing, "It is painful that fundamental trust issues have been raised against us, who have to diagnose economic phenomena and present policy alternatives," the KCCI said.

Chairman Choi pointed out, "The reliability of the cited data has been raised, and we have confirmed the problem ourselves," and criticized, "It is far from enough to prevent a recurrence of fact-checking," adding, "We should look back coolly to see if the pride of being a legal economic organization has turned into mannerism." He then ordered, "I hope you will look back on yourself in your respective positions and work with an extraordinary determination to rebuild the organization."

First of all, Chairman Choi came up with five reform measures. First of all, he advocated innovation in organizational culture and goals, and ordered to secure expertise. "We need to present practical policy alternatives to national tasks such as balanced regional development, resolving polarization, tariff negotiations, youth jobs, and fostering AI, not external standards such as the number of cases," he said. "It is necessary to create an environment in which internal talents can be motivated in the right place along with the transfusion of external experts."

He also declared that he would suspend the event hosted by the Chamber of Commerce and Industry for this purpose after directly saying that fundamental reflection on the role of the Chamber of Commerce and Industry is necessary. Chairman Choi said, "We have reduced the high expectations of the public and the government for legal economic organizations," adding, "All members should have a heavy sense of social responsibility." "If we find a safety problem at the work site, we will stop working until we identify the cause and solve the problem," he said. "We will take a moment to 'stop' until we are ready to stand again as an economic organization that puts the public interest and truth first through change and reform." However, it intends to continue supporting events and tasks at the national level.

Finally, Chairman Choi also said that he would proceed with the process of reappointment for all executives. "Renewal should start with consolation," he said, adding, "I feel a heavy responsibility from myself." In addition, he said, "We will return to our initial intention at the time of our inauguration and fulfill all responsibilities," and added, "Let's take this crisis to finish internal maintenance quickly and firmly so that we can be reborn as a more trusted institution."

Earlier, the KCCI cited statistics with unclear evidence in a press release on inheritance tax, which cited data from foreign immigration consulting firms that showed a surge in the number of high-income earners leaving Korea due to the burden of inheritance tax, but has been criticized for questioning the reliability of the data.

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*This content was translated by AI.