Choi Tae-won, chairman of the Korea Chamber of Commerce and Industry (KCCI), announced sweeping reform measures including seeking reconfirmation votes for all executives and temporarily suspending chamber-hosted events following a recent controversy over statistics in a press release.
According to KCCI on the 12th, Chairman Choi, currently on a business trip to the United States, sent a letter to chamber members stating, "It is painful that fundamental trust issues have been raised against us, who should diagnose economic phenomena and propose policy alternatives." He emphasized self-reflection, adding that "measures limited to strengthening fact-checking are woefully insufficient to prevent recurrence."
Presenting five major reform initiatives to address the situation, he announced plans for a "reconfirmation procedure for all executives." Chairman Choi said, "Reform must start from the top," adding, "I myself feel a heavy sense of responsibility." Chamber-hosted events will also be suspended for the time being, though the organization plans to responsibly participate in national-level events and initiatives.
The "reconfirmation of all executives" and "complete suspension of events" measures are interpreted as drastic remedies to restore trust lost by the statutory economic organization. Following public criticism from the president and an audit by the supervising ministry, the decision reflects concerns that the organization's very foundation could be shaken without fundamental structural reform. That Chairman Choi personally sent an internal letter from abroad, following earlier instructions to prevent recurrence, demonstrates how seriously he views this matter.
In his letter, Chairman Choi emphasized the need to "coldly reflect on whether our pride as a statutory economic organization has deteriorated into complacency," presenting five reform measures.
The most dramatic measure is the reconfirmation procedure for all executives. This reflects the judgment that the incident stemmed not from working-level departments but from deficiencies throughout the management system. Chairman Choi said, "Reform must start from the top," adding, "I myself feel a heavy sense of responsibility." However, KCCI declined to elaborate on specific methods and scope of the reconfirmation procedure, stating only that "detailed plans will be announced later."
The suspension of KCCI-hosted events for the time being was also included. Chairman Choi compared this to a "work stoppage" at a construction site where safety issues have occurred. He said, "We will take a moment to 'pause' until we are ready to stand again as an economic organization that prioritizes public interest and truth through change and reform." This signals intent to focus on strengthening fundamentals rather than external activities. However, the organization plans to actively participate in national-level events and initiatives.
He also called for fundamental structural reform of the organization. Chairman Choi urged abandoning superficial metrics like "number of proposals" and instead fostering organizational culture centered on "substantive alternatives" for national priorities such as balanced regional development and artificial intelligence advancement. He also emphasized securing expertise through recruitment of external professionals and fundamental reflection on KCCI's role.
Chairman Choi said, "I will return to my original intentions when I took office and fulfill all my responsibilities as chairman," urging, "Let us use this crisis as an opportunity to thoroughly complete internal reorganization so we can be reborn as a more trusted institution."
Earlier, KCCI stated in a press release distributed on the 3rd that 2,400 high-net-worth individuals left Korea in 2025—double the previous year and ranking fourth globally—while highlighting the need for inheritance tax relief. Regarding this, President Lee Jae-myung posted on X (formerly Twitter) on the 7th, attaching a column questioning the credibility of the statistics, criticizing, "I cannot believe that KCCI, an official organization established by law, publicly engaged in such conduct."
Following President Lee's public criticism, the Ministry of Trade, Industry and Energy, the supervising ministry, launched an audit of KCCI, dealing a blow to its public credibility.