Cho speaks at dinner marking South Korea's 30th anniversary of OECD membership

'Korea has reached true self-reliance as an OECD member'

Carries on late father's legacy of private-sector diplomacy

Cho Hyun-sang, vice chairman of HS Hyosung, delivers a congratulatory address at a dinner marking the 30th anniversary of South Korea's OECD membership, held Tuesday at The Grand Lotte Seoul in Sogong-dong, Seoul. [HS Hyosung]
Cho Hyun-sang, vice chairman of HS Hyosung, delivers a congratulatory address at a dinner marking the 30th anniversary of South Korea's OECD membership, held Tuesday at The Grand Lotte Seoul in Sogong-dong, Seoul. [HS Hyosung]

Cho Hyun-sang, vice chairman of HS Hyosung, is continuing his private-sector diplomacy efforts as South Korea marks the 30th anniversary of its OECD membership.

According to HS Hyosung, Cho attended a dinner Tuesday commemorating the occasion at The Grand Lotte Seoul in Sogong-dong, Seoul. The event was hosted by the Korea Federation of Enterprises, and Cho participated in his capacity as Korea director of the OECD's Business and Industry Advisory Committee (BIAC).

In his address, Cho said South Korea "has reached true self-reliance — the ability to stand on its own convictions — as an OECD member nation," adding that "OECD corporate governance standards have served as an important guide for the development and globalization of Korean companies."

He said "the voices from the business community are essential to realizing the OECD's goal of better policies for better lives," and added that HS Hyosung itself "directly feels the impact of changes in global trade norms and supply chains across diverse sectors, including mobility, AI, energy, semiconductors, aerospace and defense."

Cho also said BIAC "is an important platform for conveying the experiences and perspectives of industry to the international community." He said he would strengthen his role as a bridge — channeling Korean industry's views into OECD policy discussions and bringing the outcomes of those discussions back to domestic businesses.

The dinner drew about 80 attendees, including OECD Deputy Secretary-General Frantisek Ruzicka and other senior OECD officials, diplomatic representatives from 26 countries posted in Korea, and leading Korean business figures. Participants reviewed South Korea's economic achievements over the 30 years since joining the OECD and discussed ways to expand global economic cooperation.

Cho has carried on the private-sector diplomacy championed by his late father, Cho Suck-rai, honorary chairman of Hyosung Group. The elder Cho served as chairman of the Federation of Korean Industries and co-chair of the Korea-US Business Council, and played a key role as a private-sector diplomat on major economic issues including the Korea-US Free Trade Agreement and the expansion of Korea-Japan economic cooperation.

The younger Cho has also been active on the international stage. He was appointed as a BIAC director in 2021 and has used that role to convey Korean companies' positions on global trade and industrial policy, connecting international policy discussions with domestic industry.

Cho has attended the World Economic Forum in Davos since 2006 and was named a Young Global Leader by the forum in 2007. He has also served as Korea director of BIAC and chairman of the Korea-Vietnam Economic Cooperation Committee, working to expand economic ties. In 2024, he was appointed as a Korean member and chair of the APEC Business Advisory Council (ABAC).


keg@heraldcorp.com