Coupang, Yuhan Yanghaeng and 10 Other Companies and Organizations to Become Formal Members of the Korea Employers Federation

KCCI to Approve at Board Meeting and General Assembly on 21st
Including Dong-A ST and National Freight Truckers Association

About 10 companies and organizations, including Coupang and Yuhan Corporation, will become official members of the Korea Employers Federation (KEF).

Coupang Headquarters, Songpa-gu, Seoul. Photo by Jinhyung Kang aymsdream@

According to the business community on the 19th, these companies have submitted new membership applications to KEF, and KEF plans to approve the agenda at the board meeting and regular general meeting scheduled for the 21st.

Coupang, which has been effectively operating as a KEF member company since last year, will be officially approved as a member company through this board meeting and general meeting. It is understood that Coupang has not joined the Korea Economic Association (KEA, formerly the Federation of Korean Industries), another domestic economic organization. After the Federation of Korean Industries effectively dissolved following the 2017 political scandal, Coupang reportedly decided to join KEF as a representative economic organization.

Coupang has been considering joining KEF since its parent company, Coupang Inc., was listed on the New York Stock Exchange (NYSE) in March 2021.

The KEF membership of Yuhan Corporation, one of the leading domestic pharmaceutical manufacturers, also draws attention. Yuhan Corporation recorded consolidated sales of 1.859 trillion KRW and operating profit of 56.8 billion KRW last year. Sales and operating profit increased by 4.7% and 57.6%, respectively, compared to 2022, due to increased technology exports. Yuhan Corporation is also known to be a member of KEA.

Other pharmaceutical company Dong-A ST, KOSPI-listed Shinsong Holdings, and Hanon Systems are also expected to be registered as new KEF members. The National Freight Truck Transport Business Federation has submitted a membership application to KEF as an 'organization,' not a company.

Currently, KEF has about 4,250 member companies nationwide.

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