Market Update: Korea Inc. descends on Switzerland to attend Davos Forum – Full Analysis

 
Korean business leaders, including the heads of corporate giants such as HD Hyundai and Posco, are gathering in Davos, Switzerland, to attend the World Economic Forum, commonly known as the Davos Forum, which runs from Monday to Friday.
 
The annual event brings together global leaders in politics, business and academia to discuss pressing international issues.
 
 
This year’s forum, held under the theme “A Spirit of Dialogue,” features top Korean executives such as HD Hyundai CEO Chung Ki-sun, Posco Group Chairman Chang In-hwa, Korea Zinc Chairman Choi Yun-birm, HS Hyosung Vice Chairman Cho Hyun-sang and GS Caltex Vice Chairman Hur Sae-hong, according to the Korean business community on Tuesday.
 
Amid rising geopolitical tensions over supply chain security and increasing pressure for a green energy transition, businesses primarily aim to expand globally across the energy, battery and materials sectors, as well as to explore international partnerships to navigate the challenges.
 
For Chung Ki-sun, this year’s attendance marks his fourth appearance at Davos. He is scheduled to attend several sessions, including the energy industry governors’ meeting, to discuss the future landscape and applications of global energy systems.
 
HD Hyundai is investing heavily in future-oriented vessel technologies, including electric and hydrogen-powered ships and small modular reactor propulsion. Chung is expected to focus on the group’s ongoing efforts in environmentally friendly shipbuilding.
 

Attendees arrive at the conference center during the 56th World Economic Forum (WEF) in Davos, Switzerland, on Jan. 20. [EPA/YONHAP]

 
Last year at Davos, HD Hyundai unveiled a partnership with U.S. AI company Palantir to develop the “Future of Shipyard” project. Industry watchers are watching to see whether the companies will announce further developments this year.
 
Posco Group Chairman Chang In-hwa is also engaging with global figures at the forum. Posco is expanding its steel operations into markets such as India and the United States, while actively establishing a global supply network for battery materials by entering resource-rich countries such as Indonesia, Australia and Argentina.
 
Korea Zinc Chairman Choi Yun-birm, who is spearheading the company’s plan to build a refinery in the United States, will be a featured speaker at the forum.
 
Choi is scheduled to speak at a session titled “Minerals Strategic Partnerships and Investments” on Wednesday, where he will share strategies for public-private cooperation and investment in stable mineral supply chains, according to Korea Zinc.
 

HS Hyosung Vice Chairman Cho Hyun-sang, left, and GS Caltex Vice Chairman Hur Sae-hong [HS HYOSUNG/GS CALTEX]

 
Choi will also attend the inaugural meeting of the Future of Materials Steering Board Meeting, which discusses long-term shifts in global materials systems.
 
HS Hyosung Vice Chairman Cho Hyun-sang, who is leading the company’s push into silicon anode materials for secondary batteries, is also participating in the forum. Cho has been a consistent attendee since 2006 and is expected to discuss strategies for securing future growth engines.
 
GS Caltex Vice Chairman Hur Sae-hong, who is in charge of the company’s energy and refining business, is attending for the seventh time. He is expected to explore opportunities for sustainable energy transition and new business partnerships in line with the global push to reduce carbon emissions.

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY LEE SU-JEONG [[email protected]]