The first privately-run election for the World Korean Business Convention (WKBC) operating committee chair is set for February 25th, pitting World Federation of Korean Associations (World OKTA) President Park Jong-bum against the President of the Council of Korean-American Chambers of Commerce, Hwang Byung-gu. The confirmation of the two candidates followed a registration period that closed on February 10th, according to a recent announcement by the Overseas Koreans Foundation.
This election marks a significant shift in the WKBC’s governance, moving away from a system where the position was automatically held by the head of the Overseas Koreans Foundation. The change, approved by the 56th WKBC Operating Committee on January 29th, aims to give greater agency to Korean business leaders globally. The election will be conducted online via Zoom, utilizing a confidential voting function, and proxy voting will not be permitted to ensure fairness.
Park Jong-bum is running with Kim Jeom-bae, President of the Africa-Middle East Korean Business Association, on a platform focused on creating a “365-day performance-driven global Han Sang platform.” Hwang Byung-gu is partnering with Yoon Deok-chang, a former chairman of the Singapore Korean Association, and their campaign centers on establishing the WKBC as a hub for innovation within the “Global K-Han Sang Network.”
A total of 42 members of the WKBC Operating Committee are eligible to vote. The election will proceed with a simple majority vote in the first round. If no candidate secures a majority, a runoff election will be held between the top two teams. However, if only two teams are competing, the team with the most votes in the first round will be declared the winner, even without a majority.
The upcoming 24th WKBC is scheduled to capture place in Incheon, South Korea, from September 28th for four days. The convention has historically served as a platform for Korean entrepreneurs and businesspeople worldwide to strengthen their global network and facilitate the overseas expansion of domestic companies, beginning with its inaugural event in Seoul in 2002.
Both Park Jong-bum and Kim Jeom-bae attended the 2nd Jang Bogo Han Sang Award Winners World Conference in Vienna, alongside Kim Deok-ryong, Chairman of the Jang Bogo Global Foundation. Park Jong-bum and Kim Jeom-bae also participated in the first Jang Bogo Han Sang Award Winners World Conference in Jakarta, Indonesia, alongside other award recipients and representatives from the Wan-do County government and the Jang Bogo Global Foundation.
Recent recognition of past WKBC leadership, including former chairmen Lee Young-hyun, Ko Seok-hwa, Hong Seong-eun, Cho Byung-tae, Park Jong-bum, Song Chang-geun, Ko Sang-gu, and Kim Jeom-bae, with commemorative plaques, underscores the convention’s two-decade history. The 2030 World Expo bid was also discussed at a related event, with a presentation by Park Jeong-ok, head of the Ministry of Foreign Affairs’ World Expo Bidding Team.
