More CEOs to join Moon's trip to Vietnam, UAE
Korea Chamber of Commerce and Industry (KCCI) Chairman Park Yong-maan speaks at a conference for inter-Korean relations at the chamber's office in Seoul, Monday. / Yonhap
FKI again left out of Moon's foreign tour delegation
By Nam Hyun-woo
Yoon Boo-keun Samsung Electronics Vice Chairman
Koo Ja-yeol LS Group Chairman
Chung Yong-jin Shinsegae Vice Chairman
The economic agenda for President Moon Jae-in's trip to Vietnam and the United Arab Emirates (UAE) is being finalized, with more working-level CEOs expected to accompany Moon instead of conglomerate heads.
Moon will visit Vietnam from March 22 to 24 and the UAE from March 24 to 27 in a bid to improve economic cooperation and expand his “New Southern Policy,” aimed at diversifying Seoul's economic partnership to countries other than the U.S. or China.
According to sources, LS Group Chairman Koo Ja-yeol and Shinsegae Vice Chairman Chung Yong-jin will accompany Moon to Vietnam.
Park Yong-maan, chairman of the Korea Chamber of Commerce and Industry (KCCI), which is organizing the Vietnam delegation along with Cheong Wa Dae, will also join the delegation. Park is the Doosan Infracore chairman.
But other companies are expected to send working-level executives instead of their chiefs. Samsung Electronics is expected to send Vice Chairman Yoon Boo-keun, while Hyundai Motor Group President Chung Jin-haeng, LG Electronics President Lee Woo-jong and SK Vice President Park Young-choon are expected to represent their companies.
Vietnam is one of Samsung's most important Southeast Asian countries -- factories there produce about half of the company's smartphones. As of last year, Samsung Electronics employed more than 160,000 Vietnamese people.
POSCO Daewoo CEO Kim Young-sang is expected to join the delegation. Vietnam is POSCO Daewoo's key overseas market, where it is expanding its business interests to other industries, including natural resources.
For KT, Chairman Hwang Chang-gyu is not on the list. Instead, Vice President Yun Gyeong-rim is expected to joining the Vietnam delegation.
For the UAE delegation, organized by the Korea International Trade Association (KITA), Yoon is expected to stay on the delegation. SK Innovation CEO Kim Jun, and LG Chem Vice Chairman and CEO Park Jin-soo are expected to represent their companies.
GS Engineering & Construction CEO Lim Byeong-yong, Doosan Group Vice Chairman Park Gee-won, Hanwha Group Vice Chairman Keum Chun-soo and LS Cable & System President Myung Roe-Hyun are also likely to participate.
Meanwhile, the Federation of Korean Industries (FKI) is the only one of five leading umbrella business organizations whose chief will not be part of the delegations.
KCCI Chairman Park, KITA Chairman Kim Young-joo, Korea Employers Federation Chairman Sohn Kyung-sik and Korea Federation of Small and Medium Business Chairman Park Sung-taek will join Moon's trip, but FKI Chairman Huh Chang-soo will not.
The FKI was mired in the corruption scandal involving impeached former President Park Geun-hye and her confidant Choi Soon-sil.