Ryu Jin, Chairman of Hankyung Association, Expresses "Gratitude" for Hyundai Motor and SK Membership Fee Payments

The 2nd Korea-US-Japan Economic Dialogue
On Kim Byung-joon's Position: "It Will Work Out"
Collusion Between Politics and Business: "With an Ethics Committee... Eradication Is Possible"

Ryu Jin, Chairman of the Korea Economic Association, stated on the 4th that "everything will work out well" in response to Lee Chan-hee, Chairman of the Samsung Compliance Committee, mentioning the "link of collusion between politics and business" and demanding the resignation of Kim Byung-joon, Honorary Advisor of the Korea Economic Association.

Ryu Jin, Chairman of the Korea Economic Association (Chairman of Poongsan Group), attended the "2nd Korea-US-Japan Economic Dialogue (TED)" held on the morning of the 4th at the Grand Hyatt Hotel in Yongsan-gu, Seoul.
[Photo by Moon Chae-seok]

Before attending the '2nd Korea-US-Japan Economic Dialogue (TED)' held at the Grand Hyatt Hotel in Yongsan-gu, Seoul, Chairman Ryu made these remarks to reporters.

When asked if there are plans to eradicate collusion between politics and business, Chairman Ryu replied, "We (Korea Economic Association) do not have such (collusion)," adding, "There is an Ethics Committee, so it will be resolved through the Ethics Committee." The Ethics Committee was newly established last August when the Federation of Korean Industries changed its name to the Korea Economic Association, aiming to clear the past and establish a transparent corporate culture.

Regarding SK Group paying membership fees to the Korea Economic Association following Hyundai Motor, Chairman Ryu expressed gratitude with a smile, saying, "Thank you for paying the membership fees." Samsung Electronics is also expected to pay membership fees soon for four affiliates (Samsung Electronics, Samsung SDI, Samsung Life Insurance, and Samsung Fire & Marine Insurance) with the approval of the Compliance Committee.

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