Baek Byung-yeul is a journalist at The Korea Times focused on cultural content, including films and cultural events in South Korea. You can contact him at baekby@koreatimes.co.kr to share your insights.
Yoon's former chief election campaigner to lead FKI
Kim Byong-joon, chairman of Community Chest of Korea / Korea Times file
By Baek Byung-yeul
By Baek Byung-yeul
Kim Byong-joon, who led the election campaign committee for then-presidential candidate Yoon Suk Yeol, will lead the Federation of Korean Industries (FKI), one of the largest business lobby groups here, as acting chairman, according to the FKI, Friday.
The FKI has been seeking a successor for Chairman Huh Chang-soo, who expressed his intention to resign after his term ends on Feb. 23.
According to the FKI, Kolon Group Honorary Chairman Lee Woong-yeol, who also leads the FKI's chairman nomination committee, recommended Kim as an acting chairman.
Kim is currently the chairman of the Community Chest of Korea and an honorary professor at Kookmin University. Given Kim helped Yoon presidential election campaign, appointing the president's mentor is seen as a sign of the FKI's willingness to lead the business lobby group innovatively and improve relations with the Yoon administration.
The FKI has seen its status decline after four major conglomerates including Samsung, Hyundai Motor, SK and LG withdrew their memberships in 2017 after the group was embroiled in a massive corruption scandal that ended up landing former President Park Geun-hye in prison.
Huh has been chairman of the FKI since 2011, serving six consecutive terms. With his sixth two-year term ending next week, the FKI needs to appoint the next chief at its general meeting.
“He accepted to play the chief role for an emergency organization at the request of the FKI temporarily,” Kim told local media.
“The emergency organization will focus on correcting the philosophy and values of the free market economic system prior to appointing the FKI's next chairman.”
It remains to be seen whether the FKI will be able to resolve its biggest mission ― attracting back major conglomerates as members once more ― under the interim leader.
Due to the withdrawal of the conglomerates, the FKI lost more than 70 percent of its membership income.