FKI creates new committees, boosts leadership

The board members of the Federation of Korean Industries (FKI) are posing for a commemorative photo after a meeting at the FKI Tower in Seoul. From left: Lee Woong-yeul, Honorary Chairman of Kolon; Lee Jang-han, Chairman of Chong Kun Dang; Kim Yoon, Chairman of Samyang Holdings; Kim Jung-soo, Vice Chairman of Samyang Roundsquare; Ryu Jin, Chairman of FKI; Sung Rae-eun, Vice Chairman of Youngone Group; Kim Nam-goo, Chairman of Korea Investment Holdings; Cho Hyun-joon, Chairman of Hyosung; and Kim Chang-beom, Vice Chairman of FKI. (FKI)

The Federation of Korean Industries (FKI), a major South Korean business lobby group, will establish two new committees: the Artificial Intelligence (AI) Innovation Committee and the Service Industry Competitiveness Enhancement Committee.

FKI said on Tuesday that the organization made the decision to increase the participation of member companies in policy proposals and establish its activities centered around its members.

The AI Innovation Committee will address issues such as AI technological innovation, the adoption and spread of AI across various industries, bridging the digital divide among generations and social groups, and establishing a new digital order in the AI era.

The Service Industry Competitiveness Enhancement Committee will focus on the convergence of service and manufacturing industries, support for underdeveloped sectors, and improving regulations in promising areas. FKI plans to identify policy tasks through these committees and reflect them in government policies.

The organization currently has four committees: the Economic Policy Committee, the Ethics Committee, the Inter-Korean Economic Exchange Committee, and the K-ESG Alliance.

“In the current difficult economic situation, we are committed to promoting entrepreneurship for the resurgence of the Korean economy,” FKI Chairman Ryu Jin said.

FKI also expanded the number of its leadership, holding a dinner meeting for its member chairmen on Monday. It also decided to recruit Korea Investment Holdings Co. Chairman Kim Nam-goo, Samyang Roundsquare Co. Vice Chairman Kim Jung-soo, and Youngone Holdings Co. Vice Chairman Rae eun Sung, increasing the number of the leadership from 12 to 15.

FKI changed its Korean name on September 18th, 2023, to mark its new beginning.

“We will continue our dynamic activities that reflect the times by recruiting female economic leaders to our leadership and gathering voices from various industries,” the federation said. “We have high expectations as globally recognized business leaders have joined our leadership.”

Kim of Samyang Roundsquare and Sung are the second and third female vice chairpersons following Aekyung Group Chairwoman Chang Young-shin, who served as vice-chair in 1999.