New Year’s Address of 2025 by Jin Roy Ryu, Chairman of the Federation of Korean Industries
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New Year’s Address of 2025 by Jin Roy Ryu,
Chairman of the Federation of Korean Industries
Fellow Koreans,
As we welcome the first day of the New Year, 2025,
I extend my sincere wishes for happiness for everyone,
in your homes and places of work.
The previous year, 2024, was one of contrasting experiences.
We rejoiced as writer Han Kang was laureated with the Nobel Prize in Literature.
Yet, the political uncertainties
that unfolded toward the year’s end stirred much concern.
We are reminded that mere expectations and hopes may not suffice when navigating the turbulent waters ahead.
The global economic landscape
presents formidable hurdles for the Korean economy.
Geopolitical risks are mounting, and protectionism is on the rise.
We will witness the beginning of a second Trump administration, whose prevailing agenda is “America First.”
Meanwhile, epoch-defining transformations are reshaping industries
such as semiconductors, mobility, and artificial intelligence.
Domestically, our economic base faces headwinds due to low birth rates and a rapidly aging population, with forecasts that we are entering a 1% growth era.
Exports, the backbone of our economy, are showing signs of slowing down.
Korea yet again stands at the crossroads of expansion or stagnation.
However, we are a people whose legacy
is one of unity and collaboration on a national scale.
From Independence Day and throughout the Korean War, to weathering the Asian Financial Crisis
and the Global Financial Crisis, and rising to the challenges of COVID-19,
we emerged from crisis after crisis as a united whole.
Dedication to our responsibilities in our respective roles and
advancing as one enabled us to overcome adversity.
The Federation of Korean Industries stands resolute in confronting the challenges of 2025 head on, and we stand shoulder-to-shoulder with the Korean people.
The FKI will serve as a forerunner for the Korean economy,
spearheading efforts to overcome domestic challenges and laying the groundwork for a bold leap forward.
Guided by our founding principle, “Serving the Nation Through Business,” we reaffirm our commitment to advancing Korea’s economy.
First, we will amplify our role in private-sector economic diplomacy.
Our sights are set beyond our borders and directed toward the world.
The formation of a unified One Team between the government and the business community will enable more businesses to access greater opportunities across broader markets.