Korea Awards succeeded in changing generations… FKI is not able to elect the next president for 10 years

Input 2021.02.19 06:00

The Korea Chamber of Commerce and the National Federation of Entrepreneurs, an economic organization representing the domestic business community, are facing a shift ahead of their head change. Taewon Choi SK(034730)The group’s chairman is elected as the next chairman, and a large number of young top executives have joined the Seoul Chancellor, and it is being evaluated as creating a new’role model’ for economic organizations. As the FKI is having a hard time finding the next chairman, there is a growing possibility that the current chairman Huh Chang-soo will have 5 consecutive years.

According to the business community on the 19th, the Seoul Chancellor will hold a general meeting of lawmakers on the 23rd. Korea Financial Group (071050)Chairman and Beomsoo Kim Kakao (035720)Chairman, Taekjin Kim NCsoft (036570)Representative, Jiwon Park Doosan (000150)Vice-Chairman, Han-joo Lee, CEO of Bespin Global, Hyung-Hee Lee, President of SK Group, and Chairman Byeong-gyu Jang of Krafton will be appointed as new vice-chairmen.

It is noteworthy that a large number of CEOs of information technology (IT) and financial companies have joined the Seoul Presidency. This is the first time that the CEO of an IT company has been named in the Seoul Awards, and they joined the presidency at the suggestion of Chairman Choi Tae-won.



(From left) Nam-gu Kim, Chairman of Hantoo Finance, Chairman of Krafton, Bum-soo Kim, Chairman of Kakao, and CEO Taek-Jin Kim, NC, who joined the Seoul Chamber of Commerce’s presidency. / Chosun DB

Woo Tae-hee, a full-time vice chairman of the Seoul Prize, said, “Through this reorganization of the chairmanship, we expect to be able to produce a variety of voices from innovative companies that will take charge of the future industry as well as the traditional manufacturing industry.”

Chairman Choi will be elected as the president of the Seoul Prize at the General Assembly in Seoul on the 23rd. The president of the Seoul Award also serves as the president of the Korea Award. Chairman Choi will be the first of the four major groups in Korea to become the chairman of the Korea Award.

In the economic world, it is evaluated that Seoul Sangsang has succeeded in’generational change’ ahead of Chairman Choi’s inauguration. Until now, it has been pointed out that the CEOs of the IT industry and the financial sector are not in the chairmanship, and that it is a’half-sized top’. With the joining of the new chairmanship, Seoul Chancellor has been reborn as an economic organization that can represent the entire business world while transfusion of’young blood’.

An official in the business world said, “The management of traditional large corporations focused on manufacturing has been the vice-chairman in Seoul, and it is significant as a large number of young CEOs in this new industry have joined.”

On the other hand, the FKI is suffering from a difficult job search for the next chairman. The FKI will hold a regular general meeting at the end of this month and decide on the agenda for the appointment of the 38th president to elect a successor to Chairman Huh. Chairman Huh’s term of office is until the end of this month. In the business world, Kim Seung-yeon, chairman of Hanwha Group, is being discussed as the next FKI chairman, but the public opinion is that the possibility is low.

A business official said, “It seems unlikely that Kim will take over the position of the FKI president, whose phase was not as before,” and “It seems that he will focus on returning to the group management.”

After being elected as the 33rd president for the first time in 2011, Chairman Huh served four consecutive years until the 37th, and served as the FKI president for 10 years. Chairman Huh revealed that he had no intention of reseating every time his term expired, but he continued his retirement because he could not find a successor. The FKI president has a term of two years, and there is no limit to consecutive terms.

In the business world, there are many prospects that it will be difficult to find a successor this time as the FKI chairman’s position is not as good as before. The FKI was started in 1961 by the late Chairman Lee Byung-cheol, the founder of the Samsung Group, gathering large domestic companies with the motif of Japanese Gay Danren. Since then, the heads of large corporations, including Hyundai Group founder Jeong Ju-young, LG Honorary Chairman Koo Ja-kyung, SK Group president Choi Jong-hyun, and Hyosung Group honorary chairman Cho Seok-rae, took over as chairmanships, establishing themselves as representative organizations in the business world.

However, with the involvement of the Gukjeong Nongdan incident in 2016, four major groups withdrew from the FKI, and their position rapidly declined. Since the inauguration of the Moon Jae-in government in 2017, he has been humiliated by being excluded from the invitational event of the Blue House businesswomen.

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