Chairman Son Kyung-sik to Lead Korea Employers Federation for 2 More Years

Approved at the 51st Regular General Meeting... Official Organization Status to Be Granted to the Executive Committee Meeting as Well

Son Kyung-sik, Chairman of the Korea Employers Federation (Photo by KEF)

[Asia Economy Reporter Kim Ji-hee] Sohn Kyung-shik, Chairman of the Korea Employers Federation (KEF), has succeeded in his reappointment. Chairman Sohn was recognized for smoothly resolving internal conflicts that arose after his inauguration and for enhancing the status of KEF as a comprehensive economic organization, leading to his extension as head of KEF for another two years.

On the 25th, KEF held its 51st regular general meeting at the Chosun Hotel in Sogong-dong, Seoul, where it approved amendments to the articles of association, including the formal establishment of the Chairman's Council as an official body. At this meeting, Chairman Sohn was unanimously reappointed for two years by the endorsement of the Chairman's Council and member companies. The council evaluated that since his inauguration in March 2018, Chairman Sohn has established a foundation for KEF’s role as a representative economic organization responding to issues across labor, economy, and management, thereby raising KEF’s external stature.

Chairman Sohn stated, "On the occasion of the 50th anniversary of our founding, we will firmly establish our role and status as a comprehensive economic organization," adding, "As KEF chairman, I will do my best to create a business-friendly environment to support companies’ challenges and innovation efforts."

Kim Yong-geun, the full-time vice chairman, along with 20 non-executive vice chairmen and auditors, were reappointed following the chairman’s recommendation. Newly appointed non-executive vice chairmen include Cho Won-tae, Chairman of Hanjin Group; Kim Chang-beom, Vice Chairman of Hanwha Solutions; Ha Hyun-hoe, Vice Chairman of LG Uplus; and Lee In-yong, President of Samsung Electronics, following changes in representatives.

Through this general meeting, KEF formalized the Chairman's Council as an official body to effectively handle major policies. Until now, the Chairman's Council had been operated unofficially, leading to criticism that its decisions lacked legal effect. By defining it as an official body in the articles of association, KEF clearly assigned the council the role of handling key policy matters and major agenda items of the general meeting and board of directors. The Chairman's Council will be responsible for ▲ recommending candidates for new chairman ▲ consulting on executive appointments ▲ gathering opinions on major management and policy issues ▲ and conducting external activities representing the federation.

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