Son Kyung-sik, Chairman of the Korea Employers Federation, "We Must Strengthen Power by Integrating FKI and KEF"

Repeated Anti-Corporate Law Passages: "Wasn't It Too Powerless... Proposed Since Long Ago"

[Image source=Yonhap News]

[Asia Economy Reporter Yu Je-hoon] Sohn Kyung-shik, chairman of the Korea Employers Federation (KEF), emphasized the need for integration with the Federation of Korean Industries (FKI) on the 24th. After the 52nd regular general meeting held at the Chosun Hotel in Jung-gu, Seoul, Chairman Sohn told reporters, "I believe integration (between economic organizations) is necessary."

Chairman Sohn said, "I made two proposals regarding integration: one is for the FKI and KEF to merge to strengthen their power and solve various economic issues," adding, "The other is that, in the long term, we need to discuss how to maintain the liberal democracy and capitalist system for the country's prosperity, and for this, we should establish a think tank."

He also cited the passage of the three fair economy laws and the labor union law despite opposition from economic organizations, as well as the recent widespread anti-corporate sentiment, as reasons why integration is necessary. He said, "In a way, I think (economic organizations) have been too powerless," and added, "Economic organizations have long proposed such integration to unite their strength and create a business-friendly atmosphere."

Regarding his integration proposal, Chairman Sohn said, "I heard from the FKI side that the timing is not appropriate," but added, "The two organizations are not adversaries; there is no objection to cooperating and facing challenges together."

Meanwhile, at the regular general meeting, KEF appointed Lee Dong-geun, president of the Hyundai Research Institute, as the 7th full-time vice chairman. KEF also finalized its business plan at this meeting and resolved to promote key projects such as 'strengthening communication with the public to enhance corporate trust' and 'labor-management cooperation projects for the advancement of labor relations.'