FKI News

FKI Holds the 64th General Meeting

On February 20, FKI held its 64th General Meeting at the FKI Tower Conference Center, where Jin Roy Ryu was appointed as the 40th Chairman of the FKI. FKI set its 2025 business goal* as “Leading The Way, Growing Together” and officially announced a new CI reflecting its vision. Moving forward, FKI plans to focus on three key areas: expanding growth drivers, responding to Trump’s second term, and restoring the domestic economy.
On the same day, FKI also officially unveiled its new CI, which embodies its vision of leading Korea’s global economic rise in collaboration with its members, the public, and the government. FKI stated, “Through this CI change, we will strive to become a more dynamic organization that opens a hopeful future together with the people through youthful, flexible thinking and bold change and innovation.”

*The goal reflects FKI’s aim to grow alongside its members, the public, the government, and global partners as a leading economic organization and global think tank that drives national economic growth and public well-being.

FKI Holds Economic Policy Meeting with the Democratic Party

On March 5, FKI Chairman Jin Roy Ryu met with Jae-myung Lee, leader of the Democratic Party, to request swift legislative support to revive South Korea’s economic growth and overcome the economic crisis. At the meeting, FKI presented the Democratic Party with the “10 Key Tasks to Revitalize the Economy” focused on three areas, namely, boosting investment and domestic activity, securing new growth drivers, and easing unreasonable regulations. FKI also voiced concerns over the ongoing Commercial Act amendment and urged bipartisan agreement to promptly pass the Semiconductor Special Act.

FKI Supports Small Business Owners

As its first initiative of 2025, FKI signed a Business Cooperation Agreement with the Small Enterprise and Market Service (SEMAS) on January 7 to strengthen the competitiveness and growth of small businesses. Following the agreement, Chairman Jin Roy Ryu visited Woori Market in Daerim-dong, Yeongdeungpo-gu with FKI and SEMAS staff to discuss collaboration plans with local merchants. FKI staff also supported small business owners by purchasing various goods, including fresh produce. The purchased items, such as rice, fruits, vegetables, and noodles, were donated to local homeless rehabilitation and free meal centers, including Dasiseogi Support Center, Thomas House, and People Who Make a Way in the Desert.

Urgent Need to Pass Economic and Business Support Legislation

Recent political conflicts have delayed the passage of critical economic and business-related bills. Even bills that both ruling and opposition parties agree on have faced stalled legislative procedures. FKI stressed the importance of swiftly passing non-controversial bills that have bipartisan support to stabilize the domestic economy and strengthen industrial competitiveness.
FKI has assessed that while numerous self-employed individuals and small business owners are being pushed to the brink due to sluggish domestic demand and weakened consumer sentiment, businesses are also facing heightened management uncertainty caused by political instability and the potential launch of a Trump 2.0 administration. FKI emphasized the urgent need for emergency support for traditional markets, which have been hit hard by the economic downturn, and highlighted the importance of addressing delays in legislative processing that are causing Korea’s advanced industries and corporate global competitiveness to lag behind major countries. Critical issues requiring immediate attention include the exemption of tariffs on aircraft parts and support for the restructuring of construction companies. In response, FKI has proposed seven tax-related legislative tasks, referred to as the “7 Key Tax Reform Tasks,” which include amendments to the Value-Added Tax Act, amendments to the Act on Restriction on Special Cases Concerning Taxation (covering income tax and corporate tax), and amendments to the Customs Act.

FKI Holds the 5th Executive Meeting on Global Economic Issues

On January 16, FKI hosted the 5th Executive Meeting on Global Economic Issues with members of the National Assembly’s Foreign Affairs and Unification Committee. The breakfast meeting focused on “Responding to Trump’s Second Term and Its Impact on the Korean Economy.” The event aimed to brief National Assembly members, who are scheduled to attend Trump’s inauguration, on South Korean companies’ investment status in the US and key issues.

Korea-Japan Future Partnership Foundation Hosts the 3rd Korea-Japan High School Teacher Exchange Program

In 2025, marking the 60th anniversary of Korea-Japan diplomatic normalization, the Korea-Japan Future Partnership Foundation, in collaboration with the Japan Business Federation (Keidanren) and the Keizai Koho Center, hosted the 3rd Korea-Japan High School Teacher Exchange Program as its first project of the year. A delegation of 50 selected Korean high school teachers participated in a six-day program from January 19 to January 24. The program included visits to local schools, tours of major Japanese companies, expert lectures on various topics, and cultural experiences to deepen their understanding of Japan’s economy, society, and culture.

FKI Provides “Homemade Meals with Love” for Vulnerable Groups

On December 26, 2024, FKI organized a volunteer activity called “Homemade Meals with Love” to support vulnerable groups. Chang-beom Kim, FKI’s Vice Chairman & CEO, along with FKI employees, prepared lunchboxes at the Korean Red Cross Seobu Volunteer Center in Shinwol-dong, Yangcheon-gu, Seoul, and delivered them to vulnerable households, including grandparent-headed families in the area. During the event, FKI also donated funds to the Korean Red Cross to support the continuation of the “Homemade Meals with Love” program, which aims to provide regular lunchbox deliveries to vulnerable children.

Survey on the Impact of Commercial Law Revisions on Large Corporations

FKI and the Korea Listed Companies Association jointly commissioned Mono Research, a market research firm, to conduct a survey on the impact of proposed revisions to the Commercial Law among Korea’s top 600 listed companies by revenue (112 companies responded). The proposed amendments, currently under deliberation in the National Assembly, focus on strengthening corporate governance regulations, including expansion of directors’ duty of loyalty,* increase in the number of separately elected audit committee members,** and mandatory cumulative voting.***
More than half of the surveyed companies (56.2%) expressed concerns that these revisions would reduce investment and M&A activities. In contrast, only 3.6% expected a positive impact, meaning negative responses outweighed positive ones by approximately 15.6 times.

*Extending the duty of loyalty from the company to shareholders.
**Expanding the number of separately elected audit committee members (from 1 to 2) by limiting major shareholders’ voting rights to 3% (including related parties).
***Granting voting rights based on the number of directors to be appointed when electing two or more directors.

Sang-hyun Kim, CEO of Lotte Shopping, Appointed as First Chairman of FKI’s Service Industry Committee

As Korea’s manufacturing-driven growth strategy reaches its limits, calls have emerged to foster the service industry as a new engine for growth and job creation.
On March 12, FKI held the inaugural meeting of the Service Industry Competitiveness Committee at the FKI Tower Conference Center, inviting members of the Global Competitiveness Enhancement Forum—a bipartisan group of lawmakers focused on strengthening Korea’s global economic competitiveness.
This is the first time FKI has launched a dedicated service industry committee since its establishment in 1961. The committee will focus on developing policy recommendations to enhance the competitiveness of Korea’s underdeveloped service sector.
Sang-hyun Kim, CEO and Vice Chairman of Lotte Shopping, was appointed as the committee’s first chairman. In his opening remarks, Kim emphasized, “Korea’s economy is facing the limits of a manufacturing-based export-led growth strategy due to the rise of protectionism. We must foster and develop the service industry, which has high potential for value creation and job creation, as a future growth engine.”

FKI Volunteer Service: Wildfire disaster recovery activities in Southeastern Korea

FKI extended KRW 500 million in charitable donations toward wildfire disaster recovery in Southeastern Korea. On April 4-5, FKI also engaged in local volunteer service to assist disaster victims in returning to normal life. Master of Chinese Cuisine Gyeong-rae Yeo and Youngone Corporation Group Vice Chairman Rae Eun Sung (Vice Chairman of FKI) participated in volunteer service activities, serving warm meals to disaster victims. Around 20 FKI officers and staff performed on-the-ground support activities, including taking down temporary shelters, supporting relocation, and transporting aid supplies to assist those impacted by the disaster.