Consul General Hyo-Sung Park Remarks at NJ Korean American chamber of commerce 31st anniversary gala on August 9, 2019.
Consul General Hyo-Sung Park attends 2019 Annual Gala of NJ Korean American Chamber of Commerce
NJ Korean American Chamber 31st Anniversary Gala
August 9, 2019
President Lee Hak Soo, President Park Eun Rim,
Bergen County Executive James Tedesco,
Outstanding elected officials,
Distinguished members of the Korean-American community,
Honored guests, ladies, and gentlemen,
Good evening!
First and foremost, I would like to extend my heartfelt congratulations to the New Jersey Korean-American Chamber of Commerce on its 31st anniversary.
I am very pleased to note that the esteemed organization has remarkably grown both in size and stature since its establishment in 1988.
Equally satisfactory is the fact that Chamber members have made meaningful contributions to further promoting the economic prosperity of this great state of New Jersey, including Bergen County. The members have also served as engines of growth for the Korean-American community, as well as wonderful enhancers and facilitators of our mutually beneficial partnership between the United States of America and Korea.
On top of that, this Chamber of Commerce, as the New Jersey branch of Global OKTA, has helped expand the horizon of global networking among Korean business entrepreneurs.
We are proud of their valuable contributions and achievements over the past three-plus decades. (Let us give them a big round of applause!)
Ladies and gentlemen,
Without a doubt, global trade faces serious headwinds highlighted by the ongoing trade war and a newly erupted currency war between the world’s two biggest economies, the U.S. and China.
Moreover, Japan’s export restrictions against Korea will not only fundamentally undermine the WTO principle of free trade but also disrupt global supply chains and trade order.
Indeed, one can say that the current trade situation is a war that is being waged fiercely without firing a shot. As business people, you are at the forefront of this kind of war, particularly in times of growing economic difficulty and deepening uncertainty.
In his inaugural speech on March 4, 1933, when the Great Depression was at its peak in the United States, President Roosevelt solemnly told the American people,[Quote] “the only thing we have to fear is...fear itself.”[Unquote]
As you are well aware, the word “crisis” written in Chinese means both risk and opportunity.
Given the track record of this Chamber over the past 31 years, I am confident that you will continue to successfully navigate the choppy waters, and, sometimes, even uncharted waters.
In a nutshell, your success achieved, against all the odds, has proven that we, Koreans and Korean-Americans, have the capacity to overcome fear and turn risk into opportunity with diligence, indomitability, resilience, and, of course, can-do spirit. These are the traits that we, Koreans and Korean-Americans, hold dear, particularly, in times of difficulty.
Distinguished guests, ladies, and gentlemen,
As you are well aware, Korea has risen from the ashes of the Korean War to emerge as the world’s 12th largest economy in such a short period of time.
In 1953 when the Korean War ended with an armistice, Korea’s GDP per capita was mere $67. However, last year, Korea became the 7th country in the world, only after such countries as the U.S., U.K., and Germany, to join the exclusive 30-50 club for economies with GDP per capita of $30,000 and a population of 50 million.
Also noteworthy is that Korea leads the world in technological innovation and has become the world’s 6th largest exporter.
In this regard, it is important to understand that Korea owes much of its remarkable success to you, Chamber members, as you have served as a natural and beautiful bridge between the United States of America and Korea.
We very much appreciate your valuable contributions, particularly during the Asian financial crisis in 1997, which engulfed the Korean economy. Thanks to your support, Korea eventually overcame the crisis well ahead of other countries.
As you know very well, Korea is going through another economic hardship, particularly due to Japan’s weaponization of trade. Nevertheless, I can assure you that at the end of the day, we will overcome this yet again.
A week ago, Japan decided to remove Korea from its “White List” of countries which enjoy trade facilitation and simplified export requirement procedures. On the very next day, President Moon Jae-in emphasized that “We will not be defeated by Japan again.”
In this regard, it is important to understand that your continued wonderful role as a bridge between the economies of Korea and the United States will be of great help to Korea this time again.
Ladies and gentlemen,
Last, but never the least, I would like to recognize and appreciate the fact that in June of this year, this Chamber of Commerce successfully launched the start-up and trade school, which aims to nurture the next-generation and woman business leaders.
Equipped with useful tools to succeed, I am confident that they will become not only the future guardians of the Korean-American community but also the bridge builders connecting the economies of the United States of America and Korea.
We cannot emphasize too much the importance of investment in the future and, especially, investment in human resources. Thus, we applaud the efforts and hope that the wonderful organization will continue to play such a meaningful, future-oriented role.
In conclusion, I would like to thank President Lee Hak Soo, distinguished Chamber members, and all other organizers and sponsors for their hard work and support to make this event a success.
Thank you, everyone, and please enjoy the rest of the wonderful evening!