By Kim Yoo-chul
The new head of the country’s most-powerful business lobby vowed further cooperation with the government to settle key pending issues such as high consumer prices as an apparent strategy for sustainable economic growth.
``We are ready to listen what the public wants and businesses hope for,’’ said Huh Chang-soo, chairman of the Federation of Korean Industries (FKI), at a press conference in downtown Seoul, Thursday.
``Korean industries are only willing to accept proposals by the government if they are reasonable. We will negotiate and communicate with the government if necessary,’’ added Huh, who is also the chairman of energy and construction giant GS Group.
Huh was chosen as the new FKI leader in a general assembly of the organization, attended by the heads of some 200 members of the country’s 600 biggest business groups.
Huh accepted the position seven months after since its incumbent chief tendered his resignation.
The 63-year-old Huh replaces the outgoing Cho Suck-rai, who had offered to step down last July due to illness.
Born in Jinju, South Gyeongsang Province, the new chairman earned his bachelor’s degree in business management at Korea University, an MBA at Saint Louis University.
He began his career at the country’s top-tier industrial conglomerate LG Group in 1977 and worked in its trading, chemical, cable and other business units. He became the chairman of GS Group when it separated from LG Group in 2004.
``The government is being asked to tackle high consumer prices, create more jobs and provide sustainable economic growth. The FKI hopes to be a good coordinator and negotiator to promote a free market economy and improve economic conditions,’’ said the new head.
Huh stressed the lobby group will defend the interests of the country’s industries and added whether or not to maintain the so-called ``constructive partnership’’ is also one of the top concerns for FKI.
When asked what made him accept the top seat, Huh said; ``It was hard for me to refuse numerous pleas from the business circle.’’
Key executives at the FKI had asked Samsung Electronics Chairman Lee Kun-hee to lead the group several times, but the nation’s most powerful businessman refused citing personal issues.
In his acceptance speech, Huh said the FKI will work to develop Korea, ranked the world’s 15th-largest economy in terms of gross domestic product (GDP) last year by the International Monetary Fund (IMF), into the world’s 10th-biggest economy.
``Korea has strong potential. We will do our best to inspire businesspeople to focus on what they are doing and to create pro-business environment,’’ he told reporters.
But the new chief stepped back whether or not to push the government to lower corporate and inheritance taxes.
``Amid challenging economic situations, we hope the new FKI chief to be a good moderator between the government and businesses,’’ said a government official.