FKI holds onto Huh Chang-soo for another term

By Kim Yoo-chul

The Federation of Korean Industries (FKI) said Thursday it has reappointed Huh Chang-soo as its head.

Huh, who has been serving in the post since 2011, will stay on for another two years. With his reappointment, Huh is the longest-serving chief of the business lobby, according to the group.

“Based on reviews from a lot of businesspeople and business circles, the FKI reached the consensus that Huh was the right person to lead the group, again,” the FKI said in a statement. His reappointment ceremony will be Friday morning.

FKI Chairman Huh Chang-soo

No other experienced business leaders have applied for the FKI chief position since an earlier scandal involving former President Park Geun-hye in 2017 severely tarnished the reputation of the FKI and its core members.

“From the FKI's standpoint, Chairman Huh has been managing the group effectively despite all the difficulties and the challenges the FKI is facing,” the statement said.

Huh will be tasked with improving the FKI's image and resetting its position in business circles. Established in 1961, the business lobby has served as a key entity that supports the government's core economic agendas under state-managed economic development strategies. But after Park's impeachment, the FKI allowed the KCCI to take its position as the core advocate for the country's top conglomerates.