KCCI chairman orders reappointment review of executives over inheritance tax data debacle
Korea Chamber of Commerce and Industry (KCCI) Chairman Chey Tae-won reprimanded executives and other employees of the business lobby group over its recent press release on the inheritance tax, which President Lee Jae Myung labeled as unreliable and rebuked publicly. In a written message to KCCI employees, Chey expressed “deep regret” over the incident and said the chamber would “suspend all events hosted by KCCI for the time being and place all executives under a reappointment review.” Following Chey's reprimand, all 10 KCCI executives are expected to tender their resignations soon, sources said. KCCI caused a controversy with its Feb. 3 press release calling for reforms in the country’s inheritance tax system. In the release, the lobby cited British investment migration consultancy Henley & Partners. President Lee condemned news reports citing the press release as “fake news” intended to “attack government policy.” KCCI soon publicly apologized and vowed to overhaul the chamber’s research team, but senior government officials joined Lee in lashing out at the lobby gr
