Economic Organizations Restructuring Leadership, Winds of Change Blow Through Vice Presidents

Martial Arts Expert Jeong Manki and KCCI's Woo Taehee Prepare to Step Down
Restructuring of Vice Chairpersons Inevitable
Top Priority for Six Economic Organizations is 'General Election Response'

As major economic organizations prepare to reorganize their leadership this week through the reappointment or replacement of their heads, changes are also expected among the vice presidents.

Woo Tae-hee, Vice Chairman of the Korea Chamber of Commerce and Industry. Photo by Kang Jin-hyung aymsdream@

According to the business community on the 26th, Jung Manki, the full-time vice president of the Korea International Trade Association (KITA), has decided to step down from his current position after Yoon Jin-sik, former Minister of the Ministry of Commerce, Industry and Energy (now Ministry of Trade, Industry and Energy), was confirmed as the next president of KITA at the general meeting on the 27th. Although the association requested him to "stay on," Vice President Jung reportedly declined the offer.

At the Korea Chamber of Commerce and Industry (KCCI), Chairman Chey Tae-won of SK Group will be re-elected as the next chairman at the members' meeting on the 29th, and his reappointment will be finalized at the extraordinary members' meeting on the 21st of next month. Meanwhile, Woo Tae-hee, the full-time vice president, will step down. Woo, who took office in February 2020 and completed his four-year term, was recently appointed as the CEO of the heavy industry division at Hyosung Heavy Industries.

In a phone interview with Asia Economy, Vice President Woo said, "I believe I have fulfilled my role sufficiently in four years at KCCI," adding, "My term has expired, and I have now formed a connection with Hyosung." With Woo, who has worked closely with Chairman Chey for a long time, stepping down, it is expected that Chairman Chey will reorganize the vice presidents immediately after his reappointment is confirmed.

Once Chairman Yoon's inauguration and Chairman Chey's reappointment are finalized, the six major economic organizations are expected to actively respond to the key issues facing the Korean economy. The business community particularly hopes that the six economic organizations will closely monitor various economic policies that will emerge from the April 10th nationwide parliamentary elections (general elections) and the 22nd National Assembly formed through these elections, and actively voice concerns about any problems.

It is also interpreted that the recent membership of 20 companies including POSCO Holdings, EcoPro, Amorepacific, Maeil Dairies, Woongjin, KG Mobility, Hanmi Science & Pharmaceuticals to the Korea Economic Association (KEA) on the 16th, and 10 companies including Coupang, Yuhan Corporation, and Dong-A ST joining the Korea Employers Federation (KEF) on the 21st, are not unrelated to this context.

A business community official said, "It is clear that reckless policies that could shake the economic community will emerge during the general elections and the early formation of the National Assembly, so concerns are high," adding, "The response of economic organizations is more important than ever."

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