FKI Fully Commits to Industrial Restructuring... "Will Continue to Push for Return of Four Major Group Chairmen"

The Federation of Korean Industries (hereinafter referred to as "FKI"), marking its 65th anniversary, announced its commitment to focusing all efforts on industrial restructuring and preparing for the next generation in the era of the "New K-Industry." The FKI also expressed its intention to continue pushing for the return of the chairmen of the four major business groups, an initiative that was not realized this year.

On February 27, the FKI held its 65th regular general meeting at the FKI Tower Conference Center. The event was attended by about 70 key figures from the business community, including Janghan Lee, Chairman of Chongkundang; Namgu Kim, Chairman of Korea Investment Financial Group; Jungsoo Kim, Vice Chairman of Samyang Round Square; Heeyong Kim, Chairman of TYM; Ohhyun Woo, Chairman of SM Group; and Heebeom Lee, Chairman of Booyoung Group.

The Federation of Korean Industries held its 65th regular general meeting on the 27th at the FKI Tower Conference Center, announcing its commitment to focusing efforts on industrial transformation and preparing for the future generations in the era of the "New K-Industry" as it marks its 65th anniversary. From left in the photo are Jeongsu Kim, Vice Chairman of Samyang Round Square; Janghan Lee, Chairman of Chong Kun Dang; Jin Ryu, Chairman of the Federation of Korean Industries; Namgu Kim, Chairman of Korea Investment Holdings; Changbeom Kim, Vice Chairman of the Federation of Korean Industries. Federation of Korean Industries
Photo by Korean Economic Daily

During the assembly, the FKI announced its four main focus areas for 2026: ▲ ushering in the New K-Industry era, ▲ enhancing its global stature, ▲ building a path for inclusive growth, and ▲ strengthening member services. The concept of the New K-Industry centers on proposing development strategies for new growth industries, such as securing leadership in the artificial intelligence (AI) ecosystem and fostering future growth sectors, in response to the global transformation era.

In his opening address, Jin Ryu, Chairman of the FKI, stated, "As we celebrate our 65th anniversary, I hope this year marks the inaugural year for the New K-Industry, reigniting Korea's growth engine." He particularly emphasized, "We will not only provide practical opportunities for employment and entrepreneurship to young people, but also warmly embrace 'out-of-school youths' and 'NEETs' who are left in the blind spots of society."

Additionally, the FKI plans to seek a win-win model that promotes the joint growth of small and medium-sized enterprises (SMEs) and local regions, by hosting the "Corporate Growth Forum" and introducing an employment linkage model connecting baby boomers, small and medium-sized cities, and SMEs.

Ryu Jin, Chairman of the Korea Entrepreneurs Association, is delivering the opening address at the 65th Regular General Meeting held on the 27th at the FKI Tower Conference Center in Yeouido. Korea Entrepreneurs Association

However, the highly anticipated return of the chairmen of the four major business groups was not realized at this general meeting and has been postponed for the future.

Changbeom Kim, Executive Vice Chairman of the FKI, explained, "This year, both domestic and global economic conditions are extremely challenging, so our business leaders must devote their full attention to management. Therefore, the return of the chairmen of the four major groups will likely take some more time. Since there will be another general meeting in February next year, we plan to continue communicating with the four major groups and work toward setting the direction by then."

Regarding the tariff risks originating from the United States, the FKI reiterated the need for the prompt passage of the Special Act on Investment in the United States.

Vice Chairman Kim stated, "There are discussions based on Section 122 of the Trade Act that global tariffs may be raised from the original 10% to 15%, and there is also the possibility of certain target tariffs being selectively imposed on specific products and countries, as indicated by various statements. It is no exaggeration to say that all of Korea's main export items, including automobiles, pharmaceuticals, and semiconductors, are within the sphere of impact. I believe that the urgent and top-priority task is to ensure the Special Act on Investment in the United States is handled first."

Meanwhile, at this general meeting, the FKI announced the addition of 20 new member companies, including Galaxy Corporation and Airbus Korea. As a result, the total number of FKI member companies has increased to 485.

This content was produced with the assistance of AI translation services.