Ryu Jin, Chairman of Hankyung Association, "Breaking with a Shameful Past... Will Elevate Korea to the G7 Ranks"

FedChamber Holds Extraordinary General Meeting on 22nd, Appoints Ryu Jin as New Chairman

Ryu Jin, chairman of Poongsan and the newly appointed leader of the Korea Economic Association (KEA), formerly known as the Federation of Korean Industries (FKI), expressed his ambition to lead South Korea into the ranks of the G7.

At the extraordinary general meeting held on the 22nd at the FKI building in Yeouido, Seoul, Chairman Ryu, newly elected as KEA chairman, said, "I had many concerns before standing here," adding, "I was cautious about whether I was the right person to take on this heavy responsibility during difficult times."

Ryu Jin, Chairman of Pungsan, is attending the '2023 Federation of Korean Industries Extraordinary General Meeting' held at the Federation of Korean Industries Building in Yeouido, Seoul, on the 22nd. Photo by Kang Jin-hyung aymsdream@

He stated, "Our top priority now is to restore the trust of the people, and I thought I could contribute, even if only slightly," and added, "I believe that corporate profits should return to the people and also become benefits for the nation and society. The members' decision to return to the original intention of prioritizing the national economy resonated deeply with me."

He continued, "I have gained considerable experience on the international stage," and said, "I believe I can contribute to finding new paths for our economy in global competition."

Chairman Ryu also showed his determination to settle past issues. He emphasized, "There are still harsh eyes watching us. If we do not completely break away from our shameful past and boldly change, it will be difficult to regain trust."

To overcome this, he announced that he would first open the path for a "Global Leap of the Korean Economy." Chairman Ryu explained, "Our association will take the lead in overcoming difficulties and achieving a global leap for our economy," adding, "As a global think tank representing the business community, we will propose directions for the Korean economy and create practical alternatives."

He also pledged to become a partner who communicates and works together with the people. He said, "We will humbly listen to the voices of the people and seek ways to truly contribute to our society from the people's perspective," promising, "We will present concrete action plans."

He expressed his intention to become a trusted central economic organization. Chairman Ryu said, "We will thoroughly clear away the dark past and cut off the wrong links," adding, "As the first step, we will establish an Ethics Committee." He added, "We will appoint a chairman and members whom everyone can accept," and said, "Beyond simple compliance monitoring, we will set and implement strict ethical standards that meet our elevated national dignity and the expectations of the people."

He also vowed to expand the association's scope through new industries and new enterprises and actively promote exchanges and cooperation with other economic organizations. Chairman Ryu mentioned, "We will broadly gather new trends and diverse views from the business community to become an economic organization that practically contributes to the Korean economy."

Chairman Ryu emphasized, "South Korea standing proudly among the G7 must be our goal," and said, "The global stage is our future. We must be the first mover."

He added, "This is the direction we must take for future generations and the path to fulfilling the mission of serving the nation through business," concluding, "The Korea Economic Association will take the lead in pioneering this path."

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