Ryu Jin, New Chairman of the Federation of Korean Industries, Holds First Official Meeting with Economic Organization Leaders (Comprehensive)

Visited MuHyup, Korea Federation of SMEs, and Korea Employers Federation in sequence on the 23rd
Schedule coordination with Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry

Ryu Jin, the newly appointed chairman of the Federation of Korean Industries (FKI), met consecutively with heads of economic organizations as his first official schedule after taking office. This move is interpreted as an effort to strengthen cooperation with economic organizations and transform the FKI into a global think tank-type economic organization.

On the 23rd, Chairman Ryu met with Koo Ja-yeol, chairman of the Korea International Trade Association (KITA), at the Trade Tower in Samseong-dong, where they exchanged opinions on the role of economic organizations in creating social value and solving national agendas, as well as ways to strengthen cooperation between the two institutions.

Ryu Jin, the new chairman of the Federation of Korean Industries (left), met with Koo Ja-yeol, chairman of the Korea International Trade Association (right), on the 23rd at the Trade Tower in Samseong-dong for a discussion.
[Photo by Korea International Trade Association]

Chairman Koo congratulated Chairman Ryu on his inauguration, saying, "I support FKI's new journey to open the path for the 'global leap of the Korean economy,'" and added, "I hope FKI will present the direction for the Korean economy as a global think tank representing the business community." He continued, "In the face of difficult external conditions and challenging export situations, the role of economic organizations is important," emphasizing, "Let us further strengthen cooperation between the two institutions to enhance national competitiveness through the development of our companies and industries."

After meeting Chairman Koo, Chairman Ryu visited the Korea Federation of SMEs (Korea Federation of Small and Medium Business, Kbiz) in Yeouido and had a courtesy meeting with Chairman Kim Ki-moon of Kbiz.

Chairman Kim congratulated Chairman Ryu on his inauguration and said, "I hope FKI will develop into a 'global think tank' representing the business community." He added, "Since Kbiz and FKI have continuously collaborated on various projects such as the establishment of the Small and Medium Business Research Institute and the launch of the Win-Win Growth Committee, let us continue to strengthen our constructive partnership for coexistence between large and small businesses."

Ryu Jin, the new chairman of the Federation of Korean Industries (right), and Sohn Kyung-shik, chairman of the Korea Employers Federation (left), are having a conversation on the 23rd at the Korea Employers Federation building in Mapo-gu, Seoul. Photo by Korea Employers Federation

Chairman Sohn Kyung-shik of the Korea Employers Federation (KEF) was also visited.

Chairman Sohn said, "I support the new start as the Korea Economic Association, and I expect Chairman Ryu to successfully lead the organization based on his outstanding leadership and rich experience." He emphasized, "To create a business-friendly environment and enhance the global competitiveness of our economy, the roles and cooperation of economic organizations must be further strengthened."

Chairman Ryu also plans to schedule a meeting with Chairman Choi Tae-won of the Korea Chamber of Commerce and Industry (KCCI) in the near future.

The FKI held an extraordinary general meeting the day before, changing its name to the Korea Economic Association (KEA) and appointing Chairman Ryu as the new chairman. The new name is expected to be used after approval of the articles of incorporation amendment by the Ministry of Trade, Industry and Energy in September.

In his inaugural speech, Chairman Ryu said, "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 present the direction for the Korean economy and create practical alternatives."

He also stated, "We will broadly gather new trends and diverse views from the business community to become an economic organization that substantially contributes to the Korean economy," and added, "South Korea, which has proudly joined the G7 ranks, should be our goal."

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