FKI chief expresses intention to step down

Huh Chang-soo, FKI chief, expresses intention to step down [Photo by MK DB]

Huh Chang-soo, chairman of the Federation of Korean Industries (FKI), South Korea’s major business lobby group, has expressed his intention to resign from the current post, ending his term next month.

According to sources on Friday, Huh expressed his intention to step down from the position while having a meal with officials in the FKI leadership team at a hotel in Seoul last week.

The meeting was attended by Kolon Group Honorary Chairman Lee Woong-yeol and Hanjin Group Chairman Cho Won-tae, sources said. Kwon Tae-shin, vice chairman and chief executive officer of FKI, who has been working with Huh, also expressed his resignation to the participants.

Since 2011, Huh has served as the FKI chief for six consecutive terms. Huh, the longest-serving chairman of the lobby group, ends his two-year term next month.

The FKI must hold a regular general meeting in February to appoint Huh’s successor, but no candidate has been found.