'New FKI Chief' Kim Byung-joon: "I Will Break the Chain of Collusion Between Politics and Business"

[Asia Economy Reporter Han Ye-ju] "We will enter the hearts of the people and create a Federation of Korean Industries (FKI) that is supported by the people."

The Federation of Korean Industries, the largest private economic organization in Korea, has taken its first step toward reform with a new leader. They have appointed Kim Byung-joon, chairman of the Community Chest of Korea, as the chairman of the Future Development Committee and acting president, aiming to elevate the status of the FKI. Acting President Kim plans to focus all efforts on restoring trust lost since the 2017 political scandal by emphasizing communication with the public.

On the 23rd, Kim Byung-jun, former chairman of the Federation of Korean Industries' Future Development Committee and acting president, is entering the press conference room.
[Photo by Han Ye-ju]

원본보기 아이콘

On the 23rd, Kim was officially elected as acting president through the FKI’s regular general meeting and said at a press conference, "In the past, power was held by the government or political circles, but now it is held by the people," adding, "With the general public’s heightened awareness and consumer rights consciousness, whether large corporations or small and medium enterprises, they cannot survive without communicating with the people," he said.

He expressed his aspirations upon taking office as acting president, saying, "Successful companies will engage in dialogue and discussions with the younger generation and take more interest and participate in the social contributions of companies than before."

During this process, Acting President Kim repeatedly emphasized that he would lay the foundation for a free market economy and liberal democracy during his self-set six-month term. He explained, "I believe the FKI asked me to take this position because of my own beliefs and philosophy regarding liberal democracy and the free market economy," adding, "It is not enough to firmly establish the foundation of liberal democracy and the free market economy in two or three years, but I will do what I can in six months."

Regarding why he joined the FKI as an acting president rather than a formal president, he said, "The owners of the FKI are still the companies," and added, "I think it is right for the FKI to be normalized and for businesspeople to directly operate it as soon as possible, so I thought being acting president was appropriate."

On the 23rd, Kim Byung-jun, former chairman of the Federation of Korean Industries Future Development Committee and acting president, is speaking at a press briefing.
[Photo by Han Ye-ju]

원본보기 아이콘

He also addressed concerns about possible collusion between politics and business related to his appointment as acting president of the FKI despite being a non-businessperson. Kim served as Chief of Staff to the President, Chairman of the Presidential Advisory Policy Planning Committee, and Presidential Policy Special Advisor during the Roh Moo-hyun administration. He was the Emergency Committee Chairman of the Liberty Korea Party from 2018 to 2019 and was part of Yoon Seok-youl’s People Power Party presidential campaign team in the last election. After Yoon’s election, he served as Chairman of the Presidential Transition Committee’s Special Committee on Regional Balanced Development. Acting President Kim said, "(Regarding my political career) I think I did what I had to do in society and am proud of it," adding, "The foundation of the free market economy starts with breaking the chain of collusion. I came to eradicate the existing collusion and change the relationships in a new direction."

Regarding one of the FKI’s challenges, the rejoining of the four major conglomerates, he said, "If we create an FKI supported by the people based on a free market economy and liberal democracy, not only the four major groups but anyone will want to join this organization."

He also dismissed rumors of a merger with the Korea Employers Federation (KEF). With Son Kyung-sik, chairman of KEF, being mentioned as a successor to the FKI president, suspicions arose about a possible merger between the FKI and KEF. Acting President Kim said, "Those who talk about integration probably have their own logic," but added, "It is not the stage for that now. I think it is right for each to maintain their founding background, unique purpose, and role."

Meanwhile, on the same day, the FKI unveiled the second phase of its development plan, the 'New Way Initiative.' The FKI plans to consider nurturing its affiliated economic research institute, the Korea Economic Research Institute (KERI), into an internationally recognized think tank. It is also pushing to establish a Business Roundtable, a global issue consultative body composed of chairpersons of major groups.

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.