The Korea Chamber of Commerce and Industry (KCCI), established in 1884 as the Hansung Commercial Association, has its roots in the collective response of merchants in Seoul's Jongno district to the influx of foreign traders following the opening of Korea's ports. This formation was driven by a spirit of national self-reliance meant to protect local commerce from the predatory actions of foreign merchants. Over the years, KCCI has grown to become the largest economic organization in Korea, now consisting of 74 regional chambers of commerce as regular members, highlighting its significant role in the country's economic landscape.

In 1961, the Korean Economic Association was founded by 13 business figures, including Samsung's Lee Byung-chul, against the backdrop of the military regime led by Park Chung-hee. This group was formed in part to manage funds transparently for national economic development amidst the government’s crackdown on corruption from the preceding administration. The decision to create a separate financial management organization around KCCI allowed business leaders to maintain a degree of autonomy while contributing to the nation’s economy without direct entanglement in illicit practices.

Today, KCCI stands alongside several other prominent economic organizations, often referred to as the 'six major economic groups' of Korea, which represent various interests from large corporations to small and medium enterprises. Despite some rivalries, these organizations tend to act in unison when it comes to common interests, particularly concerning the economic pressures faced by wealthy individuals, as evidenced by the controversy surrounding KCCI’s remarks on the issue of inheritance tax prompting a surge in the emigration of asset-holders. This cooperation among business entities continues to influence Korea's economic policies and the broader socio-economic environment.