Korean biz group leadership goes under active tycoons

South Korea’s major economic associations go under new leadership of active business tycoons to build more clout in the face of a barrage of business-unfriendly laws and regulations.

Seoul Chamber of Commerce and Industry will officially appoint SK Group chief Chey Tae-won as its new chairman at the general assembly on Tuesday, according to industry sources on Sunday. Chey will co-chair Korea Chamber of Commerce and Industry (KCCI).

The head of the Seoul CCI traditionally co-chairs as the chairman of KCCI, Korea’s oldest and largest business organization that represents about 180,000 member companies.

The Korea International Trade Association (KITA) will appoint LS Group Chair Koo Ja-yeol as its new chairman at the general assembly to be held on Wednesday.

Lee Dong-geun, president and CEO of Hyundai Research Institute, will be tapped as the new vice chair of the Korea Enterprises Federation (KEF) on the same day. The seventh chairman Sohn Kyung-shik, CJ Group Chairman, started his term in 2018 which will end next year.

The Federation of Korean Industries (FKI) also will discuss nomination of new leadership on Thursday as the incumbent chief Huh Chang-soo is scheduled to leave the title this month.

Kim Ki-mun, head of the Korea Federation of SMEs, will serve his term until February 2023.

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