50th Anniversary of KEC... "Stepping Up as a Comprehensive Economic Organization"

Today’s Anniversary Event
Vision, Slogan, and CI Unveiling

[Asia Economy Reporter Kiho Sung] From a nationwide labor-management relations dedicated employer organization to a comprehensive economic organization. On the 15th, the Korea Employers Federation (KEF), celebrating its 50th anniversary, announced a vision to focus on presenting a new paradigm for national economic development and to advance as a comprehensive economic organization.

KEF will hold its 50th anniversary commemorative event themed "50 Years Made Together" at 5 p.m. on the same day at the Shilla Hotel in Jangchung-dong, Seoul. About 300 key figures from various sectors are expected to attend, including Prime Minister Chung Sye-kyun, Kim Jong-in, Emergency Committee Chairman of the United Future Party, Kim Tae-nyeon, Floor Leader of the Democratic Party of Korea, Employment Minister Lee Jae-gap, Kim Dong-myeong, Chairman of the Korean Confederation of Trade Unions, Moon Sung-hyun, Chairman of the Economic, Social and Labor Council, Harry Harris, U.S. Ambassador, and Xing Haiming, Chinese Ambassador.

On this day, KEF will also announce new missions, visions, and slogans that will provide core values and identity for its future activities as a comprehensive economic organization. In particular, it will present its aspirations as a comprehensive economic organization through the unveiling of a new corporate identity (CI). Since early 2015, KEF has been using a CI based on phrases such as "KEF KEF Plaza" and "KEF Korea Employers Federation." It is known that Chairman Sohn Kyung-shik (photo) personally directed the creation of the CI to symbolize the comprehensive economic organization.

Sohn Kyung-shik, Chairman of the Korea Employers Federation (center) / Photo by Kim Hyun-min kimhyun81@

KEF was launched on July 15, 1970, as the nationwide employer organization "Korea Employers Council," aiming to establish industrial peace. In 1974, it changed its name to "Korea Employers Association," and since 1981, it has used its current name. In 1991, it also became a full member of the International Labour Organization (ILO).

The business community evaluates KEF as having created a new turning point in labor-management relations. Especially through the first-ever "Central Labor-Management Wage Adjustment Agreement (1993)," the "Joint Declaration for Establishing Industrial Peace (1995)" with the Korean Confederation of Trade Unions, the "Tripartite Compromises (1998 and 2006)," and the "Labor-Management-Government Agreement to Overcome the Economic Crisis (2009)," KEF is seen to have paved the way for cooperation and coexistence beyond confrontation and conflict, contributing to overcoming national crises.

Since the inauguration of Chairman Sohn, the 7th chairman, KEF has strengthened its position as a comprehensive economic organization by representing the interests of the business community across all economic issues. A representative example is the "Grace Period for Punishment of Reduced Working Hours" in June 2018. At a time just one month before the enforcement of the reduced working hours law, through active government proposals and communication with key government officials including Prime Minister Lee Nak-yeon, KEF created a decisive opportunity for the government to grant a six-month grace period for enforcement and punishment. This was the first case where the government responded positively to proposals from economic organizations amid deep distrust of economic organizations by the current government due to the "Park Geun-hye and Choi Soon-sil Gate." Also, after the appointment of Kim Yong-geun, a former Ministry of Trade, Industry and Energy official, as the full-time vice chairman, KEF has focused on internal innovation such as resolving internal conflicts within the secretariat and enhancing budget and accounting transparency.

KEF plans to prepare for the next 100 years through the mission, vision, and slogans announced at the commemorative ceremony. A KEF official emphasized, "On the occasion of the 50th anniversary, we plan to focus on presenting a new paradigm for the advancement of labor-management relations and national economic development amid fundamental economic structural changes such as the reorganization of the global economic order."