Son Kyung-sik, Chairman of the Korea Employers Federation, "Will continue efforts to merge with the Federation of Korean Industries"

Invitation Meeting with Ambassador Joo Jung-Dae and Chairpersons
30th Anniversary of Korea-China Diplomatic Relations Next Year
Cooperation Between Both Countries for Stable Supply Chains

On the 7th, Son Kyung-sik, Chairman of the Korea Employers Federation, is speaking at the 'Korean-Chinese Ambassador Invitation KEF Chairman Meeting' held at the Four Seasons Hotel in Jongno-gu, Seoul. This meeting was held under the theme of economic cooperation measures between Korea and China to overcome the COVID-19 crisis. Photo by Moon Ho-nam munonam@

[Asia Economy Reporter Ki-min Lee] The Korea Employers Federation (KEF), which is gaining strength in the fields of economy, industry, and international exchange, has indicated that it will resume efforts to merge with the Federation of Korean Industries (FKI), a plan that failed once earlier this year.

On the 7th, after attending a luncheon hosted by Xing Haiming, the Chinese Ambassador to Korea, at the Four Seasons Hotel in Seoul, KEF Chairman Sohn Kyung-shik told reporters, "Wouldn't they be stronger if the two (KEF and FKI) merged?"

In a situation where corporate regulatory bills such as the Serious Accidents Punishment Act have been passed this year, the two organizations, which have so far failed to influence outcomes, should focus their efforts through integration rather than voicing opinions separately. In February, KEF proposed to FKI the merger of the two organizations and the establishment of a think tank, but FKI drew a line, saying that "a merger with KEF is premature." Chairman Sohn added, "Next year, the Serious Accidents Punishment Act will take effect from January, and a new government will be inaugurated," explaining, "The government and KEF will cooperate to prevent serious accidents and avoid producing lawbreakers."

Meanwhile, at the luncheon, as next year marks the 30th anniversary of Korea-China diplomatic relations, voices from the business community emphasized that not only governments but also the corporate sector should cooperate to build a stable and reliable supply chain between the two countries. Chairman Sohn said, "As revealed in the shortage of diesel exhaust fluid, a stable international supply chain is a very important issue for business activities," adding, "The governments and companies of both countries must cooperate more to establish a stable and reliable supply chain." He also requested, "We ask for active support such as investment incentives and deregulation for Korean companies entering not only manufacturing but also culture, arts, entertainment, and food sectors."

Ambassador Xing responded, "The two countries are 'strategic cooperative partners' closely connected through industry and supply chains, and as we mark the 30th anniversary of Korea-China diplomatic relations next year, bilateral relations can develop to a new level," expressing hope for strengthened Korea-China cooperation in various fields including the digital economy, artificial intelligence (AI), bio, and pharmaceuticals. Regarding the diesel exhaust fluid issue, Ambassador Xing reportedly said, "China regards Korea as special."

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