, Chairman Candidate Recommendation Committee Chair and Future Development Committee Chair Appointed 'Chairman Lee Woong-ryul'

[Asia Economy Reporter Kim Pyeonghwa] The Federation of Korean Industries (FKI) announced on the 30th that it has appointed Lee Woong-yeol, Honorary Chairman of Kolon, to concurrently serve as the Chairman of the Presidential Candidate Recommendation Committee and the Chairman of the Future Development Committee.

Chairman Lee of the Candidate Recommendation Committee will select the presidential candidate who will succeed Huh Chang-soo, the current FKI chairman whose term ends at next month's regular general meeting. He will have full authority throughout the presidential candidate recommendation process.

Huh Chang-soo, former chairman of the Federation of Korean Industries (right), is taking a commemorative photo after handing the appointment letter as chairman of the Federation's Presidential Candidate Recommendation Committee and Future Development Committee to Lee Woong-ryul, honorary chairman of Kolon. / Photo by Federation of Korean Industries

Chairman Lee will also lead the activities of the Future Development Committee, which will formulate the FKI’s mid- to long-term development plans. Chairman Huh explained the background of establishing the Future Development Committee, stating, “After gathering opinions from various sectors, we concluded that to be reborn as an FKI loved by the public and to fulfill our role, we must undergo a radical and innovative transformation.”