Around 200 participants, comprising corporate officials, consultants and economic and legal experts, gathered for The Korea Herald’s Biz Forum on Friday to discuss responding to crises in the face of political and economic uncertainties.

From the global economy to climate change, companies around the world are undergoing many kinds of crisis that pose threats to their profitability, public image and future strategies. 

“Today’s forum was timely planned to provide a place for public discussion on how we (economic and business leaders) can cope with difficult situations at home and abroad,” said Kwon Pyung-oh, CEO of the Korea Trade-Investment Promotion Agency, in his congratulatory speech.

As the head of the nation’s trade and investment agency, Kwon said the country’s export-driven economy is in crisis, as Korea has seen continuous declines in its monthly exports for 10 consecutive months since December, amid changing global market conditions.

“I feel the heavy responsibility stemming from my pessimism that things will not easily get better,” he said. “However, we can’t stay still and blame the situation. We need to find preemptive measures to reform the export structure.”

Those who gave lectures at the forum included: Dimitris Psillakis, European Chamber of Commerce in Korea chairman and CEO of Mercedes-Benz Korea, who spoke on the crises and strategies of the Korean market; founder of THE LAB h Kim Hoh on neuroscientific principles in making public apologies; Chairman of LEVICK Richard Levick on corporate communication in a revolutionary world; and Managing Partner of Jipyong Lim Sung-taek on the need for comprehensive risk management that goes beyond legal responsibilities. 

A senior manager at an electronic parts maker said of Kim’s presentation, “Corporate PR officials like me will need to listen more carefully to observers’ views when making a decision at the moment of a crisis.”

The second annual Korea Herald’s Biz Forum was held at Hotel Shilla in central Seoul, featuring the theme “Korea in crisis: How to survive in an era of trade wars and industrial risks.”

Also present at the event were representatives of leading business groups, including Kim Jun-dong, executive vice chairman of the Korea Chamber of Commerce and Industry.

The forum drew executive- and director-level officials from the country’s leading conglomerates and their affiliates, including Samsung Electronics, Hyundai Motor, LG Chem, SK Innovation, GS, CJ, Posco, Hanwha Life Insurance, Hyosung, Doosan, KT, Daesang, SPC, Lotte Shopping, Naver and Celltrion, along with financial institutions, including Industrial Bank of Korea, Shinhan Financial Group, NH Nonghyup, KB Kookmin Bank, Standard Chartered Bank Korea and Mirae Asset Global Investments.

Those from foreign businesses, such as Mercedes-Benz Korea, GM Korea, BMW Group Korea, Porsche Korea, Volkswagen, British American Tobacco Korea, AIA, Facebook, Apple, Philips and Oracle, attended as well. 

By Song Su-hyun (song@heraldcorp.com)