“Mr. Son, Chairman of SK to Be Chairman of The Federation of Korean Industries.”

Sohn Gil-seung (photo), chairman of SK, will be inaugurated as the 28th chairman of the Federation of Korean Industries.

The Federation of Korean Industries announced that on the 6th chairman Sohn had informed his intention to accept the chairmanship of the Federation of Korean Industries after finishing his consultation with the presidents` group of SK.

Chairman Sohn intends to be officially nominated and inaugurated in the general meeting of the Federation of Korean Industries on the 7th and to carry out the chairmanship of the Federation of Korean Industries.

Mr. Sohn Byung-doo, full-time vice-chairman of the Federation of Korean Industries, informed that chairman Sohn had presented four issues including the △transition to the business circle beloved by the nation, △transformation of the Federation of Korean Industries into the productive think-tank constructing the central country of the North-east Asia, △reconciliation of interests of member firms through dialogues and discussions, and △positive assistance of member firms and chairmen`s group as conditions for accepting the chairmanship of the Federation of Korean Industries and was promised a full-scaled support for the conditions by the chairmen`s group.

According to this, it is forecasted that there will be many changes in the relations of the Federation of Korean Industries with the Government and its activities.

As Sohn Byung-doo is certain to be re-elected as vice-chairman in the general assembly on the 7th, the Federation of Korean Industries is expected to become the `system of Sohn and Sohn`.

On the other hand, SK said, “Chairman Son Kil-seung will continue to work as chairman of SK Group regardless of his acceptance of the chairmanship of the Federation of Korean Industries and the system of his partnership with Mr. Choi TaeWon , chairman of SK Corporation, will not be changed.”

The federation of Korean Industries plans to adopt a resolution promising that the enterprises will spearhead the attainment of per capita income of 20,000 US dollars and such economic goals as the expansion of growth and the construction of the central country of the North-east Asia.

Yeon-Su Shin ysshin@donga.com