The Federation of Korean Industries (FKI) held its 64th General Meeting at the FKI Conference Center on February 20 and confirmed Chairman Jin Roy Ryu as the 40th Chairman of the FKI. More than 150 key leaders of the Korean business community, including Woong Yeol Lee, chairman emeritus of Kolon Group; Jang Han Rhee, chairman of Chong Kun Dang Pharm; Namgoo Kim, chairman and CEO of Korea Investment Holdings; Jung Soo Kim, CEO of Samyang Roundsquare; and Rae Eun Sung, vice chairman of Youngone Corporation Group attended the General Meeting.

Renomination of Chairman Jin Roy Ryu confirmed: 

”Entrepreneurship will be the new growth driver.”

  The FKI announced that Chairman Jin Roy Ryu was unanimously renominated to the position by all the attendees at the General Meeting. First inaugurated in August 2023, Chairman Jin Roy Ryu will head the FKI again for the next two years.

  In his inaugural address, Chairman Jin Roy Ryu stated, “The Korean economy stands not at a crossroads between growth and stagnation, but rather on the edge of a precipice.” He emphasized, “There remains only a fleeting, narrow window to reignite the growth engines of the Korean economy.” Chairman Ryu added, “The situation before us grave, even more so than the 1998 Asian Financial Crisis,” and “It is crucial that the Korean government, legislature, and people come together in unity.” Chairman Ryu remarked that for the next two years, the FKI shall ①Revive the spirit of entrepreneurship to reignite the growth engines of the Korean economy, ②Lead the way in reforming the business landscape, and ③Respond rapidly to shifts in the global environment.

  During the event, the FKI also formally announced its 2025 goal as ‘Leading The Way, Growing Together¹⁾’ with three key priorities: △Securing growth drivers, △Trump 2.0 Response, and △Restoration of the livelihood economy.

 1)  ‘Leading The Way, Growing Together’: reflects the FKI’s commitment to serving as a key pillar of the Korean economy and its people, further reinforcing its role as a global think tank to usher in a better future by fostering shared growth with its member companies, the Korean people, the government, and global counterparts.

  The FKI officially announced that key IT and tech companies—including KT, Kakao, NAVER, Dunamu, Megazone Cloud, and IBM Korea—have joined the FKI as member companies. As leaders in digital transformation (DX) and AI transformation (AX), the new members are well established in cutting-edge technology fields, including AI, blockchain, cloud computing, and quantum computing.

  In addition to traditional manufacturing companies (LX, Dongguk Steel), the new members to FKI represent a variety of industries, including the entertainment (HYBE), e-commerce (Oasis), and green technology (Veolia Korea) industries.

  Of the new members to the organization, the FKI commented, “We will be better equipped to gather wider insights across the business community, enabling us to nurture future industries through practical policy recommendations,” adding, “Key IT players joining the FKI amid turbulent shifts in the industrial landscape will be a turning point for fueling the digital transformation and reigniting the engines of innovation.”

  The FKI unveiled its new CI, which embodies the organization’s vision of leading the Korean economy’s next leap forward on the global stage in collaboration with member companies, the public, and the government. Explaining the new design, the FKI stated: “The blue typeface reflects the global markets that the Korean business community strives to pioneer and the color conveys the qualities of creativity and trust; the green circle represents the Earth and the FKI’s mission of building sustainable growth that goes hand-in-hand with the Korean people.”

  The FKI emphasized that the CI change marks its commitment to being a dynamic force for sweeping change and driving innovation. With youthful energy and adaptive thinking, the FKI aims to build a future filled with hope, together with the Korean people.