Hyun Jae-hyeon, chairman of the local conglomerate Tong Yang Group, has been elected president of the U.S.-Korea Business Council, a leading private organization of businessmen from the two countries, the Federation of Korean Industries (FKI) said Monday.
The head of the financial and manufacturing business group has been actively participating in the council's activities and also has a broad social network in the United States, the FKI said in a statement.
Hyun, 60, presided over the CEO forum of the Asia-Pacific Economic Cooperation (APEC) summit in 2005, and is a member of the business advisory council of the regional forum.
Founded in 1997, the council conducts and supports various activities in both countries to promote free trade and provide business information on potential trade and investment opportunities.
It holds annual joint plenary meetings to exchange views on various issues regarding U.S.-Korea economic and trade ties and develop strategies and action plans to foster and expand trade and investment between them. Their next meeting is scheduled for February in California.