The Weekly Update (6)

April 2018

Global Alternative Investment Insights 2018 successfully concluded
Info Session: ‘Korean Economic Outlook and Future Policy Direction’
ECCK Co-organized the EU GDPR Forum
ACRC policy round table with foreign businesses in Korea
The Korea Herald interview with ECCK President
ECCK Busan Spring Network Night
SKBC, SBHK and ECCK sign cooperation agreement
ECCK & KATS discusses on Electrical Appliances and Consumer Products Safety Control Act
ECCK Busan seminar ‘The ABC’s of Anti-Bribery and Compliance in Korea’
Info Session: ‘Changes in Labor Law for Executives’
ECCK speaks at ILO seminar at national assembly
Info Session: “Why Industry 4.0 and Collaboration Go Hand-In-Hand?”
First ECCK CFO Forum of 2018
RDA releases first report on underage drinking prevention campaign
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Global Alternative Investment Insights 2018 successfully concluded

The Global Alternative Investment Insights 2018 (GAII 2018) jointly held by the ECCK and Maekyung Media Group, was a great success. Joined by over 400 leading persons in real estate, PEF, and infrastructure from all over the world, this year’s GAII was held on April 12 at The Shilla Seoul. At the conference, Mr. André Schmidtgall, Vice Chairman of ECCK and Country Retail Manger & Managing Director of IKEA Korea, delivered welcoming remarks in which he addressed the significance of the business of alternative investment especially during times of heightened investment uncertainty. The Chamber is very committed to supporting the GAII, and we would like to extend our gratitude to everyone who supported this event.
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Info Session: ‘Korean Economic Outlook and Future Policy Direction’

In the morning of April 25, ECCK organized a breakfast meeting with a special guest, Dr. Seung Beom Koh of Monetary Policy Board of the Bank of Korea. During the session, Dr. Koh shared his insights on the economic outlook and future policy direction of Korea with the participants. The Monetary Policy Board is a policy-making body that deliberates and decides on major matters concerning the monetary policy of Korea, and Dr. Koh has been member of the Board since 2016. Prior to his appointment to the Board, Dr. Koh served as Standing Commissioner of the Financial Services Commission from 2015 to 2016 and has been in charge of wide range of economic policies for the last three decades since joining the Ministry of Finance in 1986. ECCK would like to express sincere gratitude to Dr. Koh for the informative session and all members for attending the event.
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ECCK Co-organized the EU GDPR Forum

The ECCK, together with Korea International Trade Association (KITA) and Korea Internet & Security Agency (KISA), co-organized a forum on ‘Implications of the EU GDPR in Korea’ on April 11 at COEX, Seoul. With the impending enforcement of EU General Data Protection Regulation (GDPR) on May 25, 2018, the day’s forum was to enhance the awareness of the GDPR and to provide proper guidelines on how companies can better prepare upon this new regulation. Desgiend to harmonize data privacy laws across Europe, to protect and empower all EU citizens data privacy, the EU GDPR is expected to reshape the way organizations across the region approach data privacy.

Attended by members of the ECCK and KITA, the forum was also featured by Mauricio Coarasa, Vice Chairman of ECCK and CFO of AXA Korea, who delivered welcoming remarks.
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ACRC policy round table with foreign businesses in Korea

In the morning of April 18, the Anti-Corruption and Civil Rights Commission (ACRC) hosted its annual Policy Briefing round table with representatives of foreign chambers and companies in Korea. The meeting was attended by ACRC Chairperson Pak Un Jong and 13 foreign business leaders including the ECCK President Christoph Heider and Vice President Bosun Kim. During the meeting, Chairperson Pak introduced the recently amended Improper Solicitation & Graft Act, and newly launched Business Complaints Team specifically designed to handle business affairs. Also, the heads of foreign business groups shared their opinions and difficulties on anti-corruption policies and regulations related to doing business in Korea.
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image: The Korea Herald

The Korea Herald interview with ECCK President

The interview article with ECCK President Christoph Heider was published by the Korea Herald on April 25, in which he discussed about 'pure' Korean regulations. To read the article, please click on the following link: [Doing Biz in Korea] Too many ‘pure’ Korean regulations here: ECCK president
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ECCK Busan Spring Network Night

In the evening of April 24, ECCK Busan Chapter held its annual Spring Network Night at the Living Room Bar on the 31st floor of Park Hyatt Busan. The theme of the evening party was “The scent of art”, where participants enjoyed live painting and piano performance along with a splendid view of Gwangan bridge.

The evening also prepared a short presentation session from our diamond sponsor, Busan Metropolitan City. For this session, Vice Mayor Kiwon Han of Busan delivered a speech on the topic of ‘Hasten the Advent of New Era with Busan’.

We would like to thank again each of our generous sponsors for making the evening extra special: Busan Metropolitan City, Gallery Art Moa, Citadines Haeundae Busan, Grand Hyatt Seoul, Haeundae Grand Hotel, Hilton Busan, Novotel Ambassador Busan, Park Hyatt Busan and Kolon Seacloud Hotel.
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SKBC, SBHK and ECCK sign cooperation agreement

The ECCK signed a cooperation agreement with Swiss-Korean Business Council (SKBC) and Swiss Business Hub Korea (SBHK). Through this agreement, ECCK, SKBC and SBHK has plans to cooperate in organizing and promoting information sessions, seminars and other business events when opportunity rises. Furthermore, collaborative efforts will be placed into exchanging information on or refer to potential overseas speakers being of relevance for the European including Swiss business community and to organize as co-hosts such events. The cooperation agreement was signed by Mr Erwan Vilfeu (Chairman of SKBC), Mr Roger Zbinden (Head of SBHK), and Mr Sven-Erik Batenburg (Director of Legal & International Affairs at ECCK).
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ECCK & KATS discusses on Electrical Appliances and Consumer Products Safety Control Act

On April 16, the ECCK held a meeting with Korean Agency for Technology and Standards (KATS) at Seoul Square building. Attended by members of the Kitchen & Home Appliances Committee, Fashion & Retail Committee, and Cosmetics Committee at the ECCK, the day’s meeting was to share opinions on the newly-announced legislation on Electrical Appliances and Consumer Products Safety Control Act.

On December 29, 2017, the recent amendments to the Act was approved by the National Assembly and will be implemented starting from July 1, 2018. Opinions raised during the meeting will further be discussed with relevant sectors in KATS with other stakeholders for further development prior to the final announcement.
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ECCK Busan seminar ‘The ABC’s of Anti-Bribery and Compliance in Korea’

Following the success of the ECCK compliance seminar ‘The ABC’s of Anti-Bribery and Compliance in Korea’ held in Seoul last month, the Chamber’s Busan Chapter hosted the compliance seminar in Busan for its members on April 12 at KNN Tower, Busan.

The seminar featured three speakers to offer their insights on corporate compliance, including Sven-Erik Batenburg (Director of Legal & International Affairs, ECCK), Jeena Kim (Partner Lawyer, Bae, Kim & Lee) and Moonsup Kim (Director of Finance & Analytics, Samil PwC). Throughout the seminar, the speakers highlighted the importance of corporate compliance and presented the 2017 Corruption Perceptions Index, the implementation of the Anti-Graft Act as well as practical tips to a complaint operation.
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Info Session: ‘Changes in Labor Law for Executives’

Under the theme of ‘Changes in Labor Law for Executives’, the ECCK organized an information session with HMP Law in the morning of April 10 at Lotte Hotel Seoul. Chan Sik Ahn, Partner lawyer at HMP Law, covered recent issues and trends in labor law with the attendees. Mr Ahn has the labor and employment, data protection and anti-corruption related expertise. ECCK would like to thank Mr Ahn for the informative presentation and all members for attending the session.
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image: Yonhap News

ECCK speaks at ILO seminar at national assembly

On April 12, ECCK President Christoph Heider participated in the ‘International Seminar on Ratification of ILO Core Conventions in Korea and Trade Union Rights for All’ held at National Assembly Research Service.

The seminar focused on Korea’s decision to ratify International Labor Organization (ILO) conventions and ways to improve existing labor law of Korea. Along with Deputy Director Karen Curtis of ILO, Legal Director Makbule Sahan of International Trade Union Confederation (ITUC), President Heider spoke at the seminar about the implementation of the outstanding ILO core conventions.
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Info Session: “Why Industry 4.0 and Collaboration Go Hand-In-Hand?”

On April 3, ECCK hosted a breakfast seminar in collaboration with Swiss Korea Business Council (SKBC) on the topic of Industry 4.0 at Lotte Hotel Seoul. Dr. Dominic Gorecky, Head of the research group for Industry 4.0 at Switzerland Innovation Park Biel/Bienne and co-founder and head of the Swiss Smart Factory, participated as guest speaker in the event. The Swiss Smart Factory is the first test and demonstration platform for Industry 4.0 topics in Switzerland. During his presentation, Dr. Gorecky shared his insights on the transformation of Industry 4.0 taking place in Germany and Switzerland and stressed the importance of cross-sector collaboration and international cooperation for a successful adoption of Industry 4.0.
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First ECCK CFO Forum of 2018

On March 28, the ECCK held its first CFO Forum of the year at Pierre Fabre Dermo-Cosmetique Korea office in Seoul. Joined by 15 CFOs across various industries, Mr Sangmin Nam, a partner of KPMG Korea, delivered a presentation on the topic of “Changes in external audit law and background”. Throughout the evening, in-depth and fruitful discussions took place in a very lively atmosphere. The event was followed by dinner, where CFOs and speakers shared their knowledge and insights while enjoying delicious Italian food and wine.

Also, the Forum had an opportunity to express sincere gratitude to Co-Chairmen of ECCK CFO Forum, Mr Torsten Berger (CFO, Continental Automotive Systems) and Mr Olivier Verjat (CFO, Pierre Fabre) as their two-years term came to an end. ECCK would like to thank them for their hard work and support towards the committee during their tenure.
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RDA releases first report on underage drinking prevention campaign

Responsible Drinking Alliance (RDA), an industry alliance formed by global alcoholic beverage manufactures in Korea, released its first report on the underage drinking prevention campaign. Marking the first industry-wide effort made by global alcoholic beverage companies, the RDA was founded in 2015 by ECCK with an aim to address alcohol related social issues in Korea.

Click on the links below to download the report:
(English) RDA: Prevention of Underage Drinking Campaign Report
(Korean) RDA: 청소년 음주예방 캠페인 리포트

Members & Partners

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KGCCI Elects new chairman

The ECCK would like to extend our heartfelt congratulations to Dr. Hyo Joon Kim as the new Chairman of Korean-German Chamber of Commerce and Industry (KGCCI). Dr. Kim is the Representative Director & Chairman of BMW Group Korea.
Denis Sungho X COAST 82

Denis SunghoX COAST 82 Concert

Date & Time: (8PM) Thursday, May 31, 2018
Venue: Mapo Art Center Art Hall MAC
Contact: Scott Oh (T: 010 - 2642 - 4348 / E: laonmanagement@gmail.com) / Denis Sungho (E: denissungho@denissungho.com)

Please click here to find the event brochure.
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[SMG] Subsidy Program for Foreign-Invested Enterprises in Seoul

the Seoul Metropolitan Government has been running an annual program to provide subsidies for employment, education & training for foreign invested companies located in Seoul.

For more details, please click on the links below:
- (English) Guide on Subsidy
- (Korean) 서울 소재 외국인투자기업 보조금
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[Seouloratorio] 100th Anniversary Commemoration Concert for the Declaration of Czechslovakia

The upcoming regular concert is to commemorate the declaration of Czechslovakia in 1918. Celebrating its 100th anniversary, great composers from Czech nationalist school Antonin Dvořák and Bedřich Smetana as well as of Slovak contemporary music Eugen Suchoň will be introduced.

Title: The 100th Anniversary Commemoration Concert for the Declaration of Czechslovakia –Journey to A.Dvořák, E.Suchoň and B.Smetana
Date: Tuesday, May 1, 2018
Time: 8:00 pm
Venue: Concert Hall, Seoul Arts Center
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[MSF Korea] Now Hiring: Vacancies

Médecins Sans Frontières (MSF) Korea is currently hiring multiple positions. For more details on each position, please click on the link below:

- Director of Finance and Administration
- HR Generalist
- Database Administrator

Upcoming ECCK Events

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Be sure to check out our External Events Calendar.
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To contact us, please click here.

5F, Seoul Square
416 Hangang-daero, Jung-gu
Seoul, Korea 04637

T: +82 2 6261 2700 (Membership)
T: +82 2 6261 2715 (PR & Communications)
F: +82 2 6261 2730
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