An encouraging atmosphere is emerging from the Federation of Korean Industries (FKI), which was evaluated as having been pushed down as the second-ranked person in the business world by the Moon Jae-in administration.
●Hosting the event for the Korea-US summit in the new month?
Even after the inauguration of the Yoon Seok-yeol government, the situation, which had not received more attention than the Korea Chamber of Commerce and Industry (CCI) led by SK Group Chairman Chey Tae-won, has recently reversed in the mood of improving Korea-Japan relations. In the business world, the possibility of the return of the four major groups (Samsung, SK, Hyundai Motors, and LG) that withdrew from the FKI in 2016 during the Park Geun-hye government’s investigation into government manipulation was even discussed, but within each group, “there is still not enough justification and practicality for returning to the FKI.” is the middle opinion of
●A quick step towards recovering the place lost to Daehan Sangsang
According to the business world on the 19th, the Federation of Korean Industries hosted the ‘Korea-Japan Business Roundtable’ on the 17th, which President Yoon attended in Tokyo, Japan, and is known to host the ‘Korea-US Business Roundtable’ to be held in the United States next month in line with the Korea-US summit. The event held in Japan had the meaning of restoring business relations between the two countries, and as President Yoon personally participated, Lee Jae-yong of Samsung Electronics, Choi Tae-won of SK, Chung Eui-sun of Hyundai Motor, and Kwang-mo Koo of LG all attended. As the heads of the four major conglomerates are expected to accompany President Yoon’s visit to the US as an economic delegation, they are likely to attend events in the US business community. The event was originally promoted by the Korea Chamber of Commerce, but was recently changed to the Federation of Korean Industries.
●Analysis of mentor ‘Chairman Byung-Jun Kim recruiting effect’
The business world is paying attention to Kim Byung-joon, former head of the Free Korea Party (predecessor of People’s Power) Emergency Response Committee, who was recruited last month as acting president of the Federation of Korean Industries in the background of the FKI’s successive activities. Acting President Kim served as the permanent election countermeasures committee of Candidate Seok-Yeol Yoon’s camp in the last presidential election, and after the presidential election, he served as the special chairman of the Balanced Regional Development Committee of the Presidential Transition Committee. Thanks to this history, in the political world, he is known as President Yoon’s political ‘mentor’ (teacher). At his inauguration meeting last month, he expressed his ambition to lead the re-entry of the four major groups into the FKI.
Group insiders “Still lacking justification and practicality”
The reaction of the four major groups is skeptical. An executive of Group A asked back, “I left the Federation of Korean Industries to separate political power and businessmen. How will the public evaluate me when I return to the group led by an aide to the president?”
Reporter Park Seong-guk
