Huh Chang-soo, Former Chairman of the Federation of Korean Industries, Attends B7 Economic Leaders Meeting as South Korea's Representative

[Asia Economy Reporter Su-yeon Woo] Huh Chang-soo, chairman of the Federation of Korean Industries (FKI), attended the 'B7 Summit' as the representative of Korea, where business leaders from the Group of Seven (G7) gathered. The meeting was held via video conference over two days on the 11th and 12th, during which Chairman Huh announced that the Korean business community will actively contribute to global climate change response efforts.

The B7 Summit is a meeting of business leaders held ahead of the G7 Summit scheduled to take place in the UK this June. The FKI participated as a guest country (Korea, Australia, India, South Africa, and three others) at the invitation of the UK, the chair country this year.

Chairman Huh proposed international cooperation measures such as sharing cutting-edge global climate change technologies and expanding climate change funds for efficient responses to climate change during the 'Climate and Biodiversity' session, which was attended by UK Prime Minister Boris Johnson.

Heo Chang-soo, Chairman of the Federation of Korean Industries / Photo by Federation of Korean Industries

Additionally, Kwon Tae-shin, vice chairman of the FKI, participated in the 'COVID-19 and Global Risks - Dialogue with WTO and IMF' session, stating, "Excessive populist fiscal spending by governments after COVID-19 is being passed on to the private sector through tax increases," urging the prevention of the introduction of a global minimum corporate tax and the restoration of a free global economic environment.

He also requested that governments actively support vaccine passports and other measures to resolve vaccine disparities and ensure free movement. The proposals from the business community, including the FKI, are expected to be delivered to the G7 leaders through the 'B7 Policy Recommendation Report.'

Meanwhile, the meeting was attended by the heads of economic organizations from 11 participating countries, including Karan Bilimoria, chairman of the UK CBI, Nakanishi, chairman of Japan’s Keidanren, and Susan Clark, chairwoman of the US Chamber of Commerce.

This content was produced with the assistance of AI translation services.